Question
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. THIS SPACE PROVIDED FOR YOUR CONVENIENCE, BUT NO POINTS ALLOCATED Cash 2019 100,000 2018 65,000 Accounts receivable 50,000 60,000 Inventory 220,000 210,000 Prepaid expenses 7,000 15,000 Fixed assets 725,000 710,000 Accumulated depreciation 300,000 180,000 Accounts payable 220,000 165,000 Debt 497,000 645,000 Common stock 10,000 10,000 Retained eamings 75,000 60,000 During 2019 Dividends Net income Depreciation expense 25,000 Fixed asset purchases 15,000 10,000 Debt borrowed 132,000 120,000 Debt repaid 280,000
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