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The following information pertains to Karim Company: Account 2016__ 2017___ Cash 20,000 485,000 Account Receivables 190,000 80,000 Inventories 150,000 185,000 Equipment 110,000 110,000 Land 360,000
The following information pertains to Karim Company:
Account | 2016__ | 2017___ |
|
Cash | 20,000 | 485,000 |
|
Account Receivables | 190,000 | 80,000 |
|
Inventories | 150,000 | 185,000 |
|
Equipment | 110,000 | 110,000 |
|
Land | 360,000 | 320,000 |
|
Accounts payable | 76,000 | 66,000 |
|
Notes Payable | 50,000 | 30,000 |
|
Bonds Payable | 720,000 | 450,000 |
|
Long Term Loans | 800,000 | 920,000 |
|
Depreciation during the period was $80,000; Net income $460,000; cash dividends $10,000.
Instructions: Prepare statement of cash flows for 2017.
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