Question

The consolidated balance sheets for Lloyd Lumber Company at the beginning and end of 2015 follow. The company bought $50 million worth of fixed assets. The charge for depreciation in 2015 was $10 million. Net income was $33 million, and the company paid out $5 million in dividends.
a. Fill in the amount of the source or use in the appropriate column.
Lloyd Lumber Company:
Balance Sheets at Beginning and End of 2015 ($ million)


b. Prepare a statement of cash flows.
c. Briefly summarize yourfindings.


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  • CreatedNovember 24, 2014
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