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this is the balance sheet. it was blurry in the last pic Oestion 1 Not yet answered Marked out of 26.00 P Flag question Statement

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this is the balance sheet. it was blurry in the last pic
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Oestion 1 Not yet answered Marked out of 26.00 P Flag question Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770,000 Cost of Goods Sold 5550,000 Wages Expense 195,000 Advertising Expense 31.000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss $125,000) NORTH COMPANY Balance Sheets NORTH COMPANY Balance sheet Dec 31, 2018 2018 Ases cast Acco 13.000 T1000 Prade 2000 SOO 10000 110.000 210.000 SS1.DOR TO 125.000 Acordo TA Liabilities and Stockholders' Equity Acte Interest Bond Patil Commons wed Treasury 11000 L000 21.000 245.000 000 0.000 SST DOO 245.000 000 WOOD During 2019, North sold land for $70.000 chat had originally costs:000. Norto purchased equipment for cash paved treasury stock for cash and ved bonds payable for case Accounts payable relate to merchandise purchase Business Course Return to course Required a. Calculate the change in cash that occurred during 2019. b. Prepare a statement of cash flows using the indirect method. a. Change in Cash during 2019 $ $ b. Use a negative sign with cash outflow answers. NORTH COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Cash Flow from Operating Activities Net Loss Add (deduct) items to convert net income to cash basis Depreciation Gain on Sale of Land Accounts Receivable Inventory Prepaid Advertising Accounts Payable Interest Payable Cash Flow Used by Operating Activities Cash Flow from Investing Activities Sale of Land Purchase of Plant Assets Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable b. Use a negative sign with cash outflow answers. NORTH COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Cash Flow from Operating Activities Net Loss Add (deduct) items to convert net income to cash basis Depreciation Gain on Sale of Land Accounts Receivable Inventory Prepaid Advertising Accounts Payable Interest Payable Cash Flow Used by Operating Activities Cash Flow from Investing Activities Sale of Land Purchase of Plant Assets Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable Purchase of Treasury Stock Cash Provided by Financing Activities Net Change in Cash Cash at Beginning of Year Cash at End of Year 17 $ NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable 42,000 49,000 Inventory 107,000 115,000 Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and Stockholders' Equity Accounts Payable $19,000 $25,000 Interest Payable 6,000 Bonds Payable 210,000 Common Stock 245,000 245,000 Retained Earnings 69,000 94,000 Treasury Stock (30,000) Total Liabilities and Stockholders' Equity $519,000 $364,000

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