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Use the following information from Berlin Companys financial statements. Dec. 31, 2018 Dec. 31, 2017 Assets Cash $32,000 $26,000 Accounts Receivable 11,000 12,500 Prepaid Assets
Use the following information from Berlin Companys financial statements.
Dec. 31, 2018 | Dec. 31, 2017 | |
Assets | ||
Cash | $32,000 | $26,000 |
Accounts Receivable | 11,000 | 12,500 |
Prepaid Assets | 1,200 | 1,000 |
Total Assets | $44,200 | $39,500 |
Liabilities and Equity | ||
Accrued Liabilities | 1,700 | 1,800 |
Common Stock | 34,000 | 35,000 |
Retained Earnings | 8,500 | 2,700 |
Total Liabilities and Equity | $44,200 | $39,500 |
Additional Information: | ||
Net Income | $6,200 | |
Dividends Paid | 400 |
Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
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