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Use the following information to prepare the 2019 statement of cash flows for XYZ, Inc. using the indirect method. Be sure to properly format the
Use the following information to prepare the 2019 statement of cash flows for XYZ, Inc. using the indirect method. Be sure to properly format the statement. 2019 2018 Cash 65,000 72,000 Accounts receivable 60,000 40,000 Inventory 210,000 205,000 Prepaid expenses 15,000 10,000 Fixed assets 710,000 775,000 Accumulated depreciation 180,000 205,000 Accounts payable 165,000 150,000 Debt 645,000 662,000 Common stock 10,000 10,000 Retained earnings 60,000 75,000 2019 Net income Fixed asset purchases 25,000 65,000 Dividends Debt borrowed 10,000 297,000 Depreciation expense Debt repaid 25,000 280,000
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