direct method Instructions Labels and Amount Descriptions Statement of Cash Flows X Instructions The comparative balance sheet of Canace Products Inc for December 31, 20Y6 and 20Y5, is as follows 1 Dec 31, 20Y6 Dec 31, 20Y5 2 Assets 3 Cash $643,40000 $679,40000 4 Accounts receivable (net) 566,80000 547,40000 5 Inventories 1,011,00000 982,80000 6 Investments 000 240,00000 7 Land 520,00000 000 8 Equipment 880,00000 680,00000 9 Accumulated depreciation (244,40000) (200,40000) 10 Total asset

Answer rating: 100% (QA)

1 Dec 31 20Y6 Dec 31 20Y5 2 Assets 3 Cash 64428000 67924000 4 Accounts receivable net 56586000 54683... View the full answer