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Suppose the income statement for Goggle Company reports $139 of net income, after deducting depreciation of $24. The company bought equipment costing $115 and obtained
Suppose the income statement for Goggle Company reports $139 of net income, after deducting depreciation of $24. The company bought equipment costing $115 and obtained a long-term bank loan for $124. The company's comparative balance sheet, at December 31, is presented here Required 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities for increase and - for decrease) 2. Prepare a statement of cash flows using the indirect method 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below Required 1Required 2 Required6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (for increase and - for decrease). (Select "NE" if there is no effect. Enter all amounts as positive values.) Change Previous Year 46 86 315 Current Year 327 197 146 670 (58) 1,282 72 580 21 609 1,282 Type Cash Accounts Receivable Inventory Equipment Accumulated Depreciation-Equipment (34) 968 S Total Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings 21 S 456 21 470 968 S Total
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