The consolidated balance sheets for Lloyd Lumber Company at the beginning and end of 2012 follow. The
Question:
a. Fill in the amount of the source or use in the appropriate column.
b. Prepare a statement of cash flows.
c. Briefly summarize your findings.
Transcribed Image Text:
Lloyd Lumber Company Balance Sheets at Beginning and End of 2012 S million) Change Jan. Dec. 31 Source Use Cash Marketable securities Net receivables Inventories Total current assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets 30 53 $ 90$ 23 125 75 (25 $ 50 235 $ 90 Accounts payable Notes payable Other current liabilities Long-term debt Total liabilities Common stock Retained earnings Total labilities and equity $18 $ 15 15 7 $ 44 61 57 95 67
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