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Shown below are comparative statements of financial position for Bridgeport Corporation BRIDGEPORT CORPORATION Statement of Financial Position December 31 Assets 2018 Cash $67,390 Accounts receivable
Shown below are comparative statements of financial position for Bridgeport Corporation BRIDGEPORT CORPORATION Statement of Financial Position December 31 Assets 2018 Cash $67,390 Accounts receivable 85,930 Inventory 174,860 Land 75,710 Equipment 251,200 Accumulated depreciation - equipment (69,800) $585,290 Liabilities and Shareholders' Equity Accounts payable $39,100 Bonds payable 169,000 Common shares 212,420 Retained earnings 164,770 $585,290 2017 $21,440 77,410 193,310 98,780 185,500 (37,400) $539,040 $46,930 222,000 171,240 98,870 $539,040 Additional information: 1. Net income for 2018 was $90,180. There were no gains or losses reported on the income statement. 2. Cash dividends of $24,280 were declared and paid. 3. Bonds payable amounting to $53,000 were redeemed for cash $53,000. The bonds were originally issued at face value (no premium or discount) 4. Common shares were issued for $41,180 cash. 5. No land was purchased during 2018. 6. No equipment was disposed of during 2018. Prepare a statement of cash flows for 2018 using the Indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) BRIDGEPORT CORPORATION Statement of Cash Flows Adjustments to reconcile net income to Prepare a statement of cash flows for 2018 using the indirect method. (Show amounts that decrease cash flow with either a sign .g.-15,000 or in parenthesis e.g. (15,000).) BRIDGEPORT CORPORATION Statement of Cash Flows Adjustments to reconcile net income to
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