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Solve this solution please 23. Prepare Cash Flow Statement Company X. Balance sheets. December 31. Asset 2010 2009 Cash Accounts Receivable Prepaid rent Land Buil

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23. Prepare Cash Flow Statement Company X. Balance sheets. December 31. Asset 2010 2009 Cash Accounts Receivable Prepaid rent Land Buil Accumulated Depreciation.Building Equipment $56,000 20000 4000 130000 160000 11000 27000 3000 383000 $34,000 $22000 increase 30000 10000 decrease 0 4000 increase 0 130000 increase 0 160000 increase 11000 increase 10000 17000 increase 3000 increase 0 Accumulated Depreciation.Equipment Total 74000 Liabilities and stockholder's equity Accounts payable Bonds payable Common Stock Retained Earnings 559,000 $4,000 $55000 increase 0 130000 increase 130000 50000 0 50000 144000 20000 124000 increase 383000 Total 74000 Company X. Income Statement. Dec.31 2010 $507,000 Revenues $261,000 15000 3000 Operating expenses Depreciation expense Loss on sale of equipment Income from operations Income tax Net income Additional Information: 1. Dividends of $15000 cash were paid 279000 228000 89000 $139,000 2. The company obtained land through of issuance of $130000 of long-term bond 3. Building costing $160000 and equipment costing $25000 were purchased for cash. 4. During the year company sold equipment with a book value of $7000 ($8000-$1000 accumulated depreciation) for $4000 cash

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