Question: A comparative balance sheet for Harrison Co. appear below: Assets 12/31/2019 12/31/2018 Cash $34,000 $11,000 Accounts receivable 18,000 13,000 Inventory 25,000 17,000 Prepaid expenses 6,000

A comparative balance sheet for Harrison Co. appear below:

Assets 12/31/2019 12/31/2018
Cash $34,000 $11,000
Accounts receivable 18,000 13,000
Inventory 25,000 17,000
Prepaid expenses 6,000 9,000
Long-term investments -0- 17,000
Equipment 60,000 33,000
Accumulated depreciation-equipment (20,000) (15,000)
Total assets $123,000 $85,000
Liabilities and Stockholders' Equity
Accounts payable $17,000 $7,000
Bonds payable 36,000 45,000
Common stock 40,000 23,000
Retained earnings 30,000 10,000
Total liabilities and equity $123,000 $85,000

Additional information:

  1. Net income for the year ending December 31, 2019 was $35,000.
  2. Cash dividends of $15,000 were declared and paid during the year.
  3. Long-term investments that had a cost of $17,000 were sold for $14,000.
  4. Sales for 2019 were $120,000.
  5. Depreciation Expense was $5,000
  6. Equipment was purchased with cash. No equipment was sold.
  7. Common stock was issued for cash.
  8. Bonds were retired with cash.

Please prepare (in good form) the cash flow statement.

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