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Selected financial info for Strand Corp is below: Cash Accounts receivable (net) Inventory Land Equipment Accumulated depreciation TOTAL 2019 2018 $63,000 $42,000 $151,200 $84,000 $201,600
Selected financial info for Strand Corp is below: Cash Accounts receivable (net) Inventory Land Equipment Accumulated depreciation TOTAL 2019 2018 $63,000 $42,000 $151,200 $84,000 $201,600 $168,000 $21,000 $58,800 $789,600 $504,000 ($115,600) ($84,000) $1,110,800 $772,800 Accounts payable Notes payable- current Notes payable- non-current Common stock Retained earnings TOTAL $86,000 $50,400 $29,400 $67,200 $302,400 $168,000 $487,200 $420,000 $205,800 $67,200 $1,110,800 $772,800 Additional info for 2019: 1) Net Income was $235,200 2) Depreciation expense was recorded 3)Land was sold at its original cost:No other assets were sold 4) Cash dividends were paid 5) Equipment was purchased for cash REQUIRED: A) Prepared a formal Statement of Cash Flows for 2019
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