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Your Name: Locate and correct all errors in this statement of cash flows. Macy's Corporation Statement of Cash Flows For the Year Ended December 31,
Your Name: Locate and correct all errors in this statement of cash flows. Macy's Corporation Statement of Cash Flows For the Year Ended December 31, 2019 The correct cash balance at the beginning of the year is $83,600 $ 123,400 All other amounts are correct except for the cash balance at the end of the year. Cash Flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: -35,000 Depreciation Gain on sale of investments Changes in current operating assets and liabilities: 6.000 9,500 increase in accounts receivable increase in inventories -12,300 -3,700 increase in accounts payable Decrease in accrued expenses Net cash flow from operating activities -900 157,000 85,000 Cash Flows from investing activities: Cash received from sale of investments Less: Cash paid for purchase of land Cash paid for purchase of equipment Net cash flow used investing activities 90,000 150,100 -155,100 -107,000 45,000 Cash Flows from financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flow provided by investing activities Increase in Cash Cash at the end of the year Cash at the beginning of the year 152,00 153,900 105,300 259,200
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