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Using the data below prepare, a Statement of Cash Flow (Indirect Method) for the year 2019. Rusco Company Balance Sheets At December 31 2019 2018
Using the data below prepare, a Statement of Cash Flow (Indirect Method) for the year 2019. Rusco Company Balance Sheets At December 31 2019 2018 $ Assets Cash and cash equivalents Accounts Receivable Inventory Prepaid Expenses Total current assets 8,000 120,000 140,000 5,000 273,000 21,000 80,000 90,000 9,000 200,000 Property, Plant & Equipment Accumulated Depreciation Net Property, Plant & Equipment 430,000 (60,000) 370,000 300,000 (50,000) 250,000 Long-term investment 50,000 70,000 Total Assets $ 693,000 $ 520,000 $ Liabilities & Stockholders' Equity Accounts Payable Accrued Liabilities Income Taxes Payable Total current liabilities 123,000 8,000 20,000 151,000 60,000 17,000 12,000 89,000 Bonds Payable Total Liabilities 70,000 221,000 89,000 Common Stock Retained Earnings Total stockholders' equity 366,000 106,000 472,000 346,000 85,000 431,000 Total Liabilities & Stockholders' Equity 693,000 $ 520,000 Additional facts: 1. During 2019 the Company had Net Income of $30,000 2. In 2019 the Company sold some equipment for $8,000 that had an original cost basis of $20,000, and Accumulated Depreciation of $10,000. 3. Additionally, during 2019 the Company sold long-term investments for $30,000 that had a cost of $20,000 when purchased several years ago. 4. The Company paid a cash dividend during 2019. 5. No Bonds were retired during 2019, and the Company did not acquire any Treasury Stock
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