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solve this 7. The accounting staff of Educators' Outlet Inc., has assembled the following information for the year ended December 31, 2015: Proceeds from issuing
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7. The accounting staff of Educators' Outlet Inc., has assembled the following information for the year ended December 31, 2015: Proceeds from issuing bonds payable 2,500,000 Collections on accounts receivable 2,200,000 Cash transferred from the money market fund to the general bank account 250,000 Purchases (all on account) 1,800,000 Payments on accounts payable to merchandise suppliers 1,500,000 Cash payments for operating expenses 1,050,000 Interest paid 180,000 Income taxes paid 95,000 Loans made to borrowers 500,000 Interest & dividends received 100,000 Collections on loans (excluding receipts of interest) 260,000 Cash paid to acquire plant assets 3,100,000 Book value of plant asset sold 660,000 Loss on sales of plant assets 80,000 Dividends paid 120,000 Cash sales $ 800,000 Credit sales 2,500,000 Cash & cash equivalents, beginning of year 446,000 Cash & cash equivalents, end of year 341,000 PREPARE THE STATEMENT OF CASH FLOWS. Give an evaluation of this Education company for the stockholders. (Remember, the stockholders are you and your parents & people like you & them.)Step by Step Solution
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