The comparative balance sheet for EProducts, Inc., as of December 31, 2019 and 2018, is shown below, followed by the condensed income statement for 2019.

INSTRUCTIONS
Prepare a statement of cash flows for 2019. Other financial data for the year follow:

a. Sold used equipment for $32,000 in cash that originally cost $37,000; accumulated depreciation was $8,000. The remainder of the change in Equipment represents equipment purchased for cash.
b. Issued short-term notes payable with a par value of $50,000. Retired bonds payable at maturity.
c. Paid cash dividends of $20,000.
d. Issued common stock at par value for cash.

Analyze: Was the amount of net cash provided by operating activities sufficient to cover the cash that the company required for financing activities? Explain.

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EProducts, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Cash 124010 8 8 650 89000 5500 75000 2 4 1400 (3 4 600) 5 8 8 960 10150 Accounts Receivable (Net) 6625 0 75000 3500 75000 2 19000 2 1900 4 2 7000 Merchandise Inventory Prepaid Advertising Land Property, Plant, and Equipment Less Accumulated Depreciation-Property, Plant, and Equipment Total Assets Liabilities and Stockholders' Equity Liabilities Accounts Payable Notes Payable-Short Term 6 1300 50000 10250 6 8 500 Income Taxes Payable 8500 Bonds Payable 이 이0019 Total Liabilities 12 1550 127000 Stockholders' Equity Common Stock 100000 이01010 150000 3 1 74 10 4 6 7410 5 8 8 9 60 Retained Earnings Total Stockholders' Equity 300000 4 2 7000 Total Liabilities and Stockholders' Equity EProducts, Inc. Condensed Income Statement Year Ended December 31, 2019 925600 Revenues (including gain on sale of equipment) Costs and Expenses 50 1600 20700 195000 12000 58890 788190 1374 10 Cost of Goods Sold Depreciation Expense Selling and Administrative Expenses Interest Expense Income Taxes Expense Total Costs and Expenses Net Income After Income Taxes