Question: Information from a comparative balance sheet& income statement for lancaster corporatation is presented below. prepare statement of cash flows Unce sheet Income s treer Assets
Unce sheet Income s treer Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total Assets December 31 2017 58.000 SE5800 15.000 22.000 22.000 1000 210.000 1500 00.000) 12551000 $ 19.00 Liabilities and Stockholders' Euty Accounts payable Wages payable Notes payable, long term Common stock ($1 par) Retained earnings Total Liabilities - Equity S8000 2.000 90.000 100 000 85.000 $255.000 75.000 45 000 $210.000 Income Statement for 2018 Sales Cost of Goods Sold Depreciation Expense Other Expenses Net Income 195.000 90.000 15.000 $45.000 Additional information: 1. Bought equipment for Cash, 500,000 2. Paid $10,000 of the long-term notes payable 3 Issued new shares of stock for $25,000 Cash dividends of $5,000 were declared and paid. Lancaster Corporation Statement of Cash Flows For year ending December 31, 2018
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