Thank's

Abdul-Rahim Taysir

Assignment (2) Matthauson Company has the following comparative balance sheet data available: Cash Accounts receivable, net Inventory Prepaid rent Total current assets Equipment Accumulated depreciation Total Assets 12/31/2019 $30,000 160,000 100,000 20,000 $310.000 $400,000 (60.000) S650.000 12/31/2018 $80.000 100,000 70,000 10,000 S260,000 S200,000 (50,000 S410.000 Accounts payable Salaries payable Bonds payable Common stock, $10 par Retained earnings Total liabilities & stockholders' equity $50,000 40,000 0 350,000 210.000 S650,000 $40,000 40,000 50,000 100,000 180.000 $410,000 Additional information: 1. The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31, 2019, 2. Dividends declared and paid in 2019, $70,000. 3. Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for S3,000. 4. New equipment was purchased for cash. 5. No common stock was retired during 2019. The company also reports the following income statement for the year ending December 31, 2019: $1,000,000 600.000 200,000 40,000! 20,000 Sales Expenses: Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Loss on sale of equipment Total Expenses Income Before Taxes Incor tax expense Net income 3,000 7.000 870.000 130.000 30.000 S100.000 Using the direct method, prepare the statement of cash flows for the year ending December 31, 2019 Matthauson Company Statement of Cash Flows Year Ended December 31, 2019