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USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All
USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS LukaDonc, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 135,200 136,400 Accounts receivable 2,433,600 2,182,400 Inventory 1,081,600 1,364,000 Total current assets 3,650,400 3,682,800 Net fixed assets* 8,788,000 8,866,000 Land 1,081,600 1,091,200 Total assets 13,520,000 13,640,000 Notes payable 676,000 545,600 Accounts payable 1,622,400 1,364,000 Accruals 405,600 545,600 Current portion of LT Debt 1,757,600 1,909,600 Total current liabilities 4,461,600 4,364,800 Long-term debt 4,191,200 4,228,400 Common stock 405,600 545,600 Capital surplus 1,622,400 1,773,200 Retained earnings 2,839,200 2,728,000 Total liabilities and equity 13,520,000 13,640,000 Additional Data from Company Income Statement(s): Sales in Year 2 Net income in Year 2 Depreciation expense in Year 1 Depreciation expense in Year 2 27,280,000 545,600 2,433,600 2,591,600 *No long-term assets were sold in either Year 1 or Year 2 32. What did LukaDonc, Incorporated report as Net Cash Flow from Operating Activities for Year 2? 33. What did LukaDonc, Incorporated report as Net Cash Flow from Investing Activities for Year 2? 34. What did LukaDonc, Incorporated report as Net Cash Flow from Financing Activities for Year 2?
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32 To calculate the Net Cash Flow from Operating Activities for Year 2 we can use the following formula Net Cash Flow from Operating Activities Net In...Get Instant Access to Expert-Tailored Solutions
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