Question: pls solve quickly Year 1 Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in Millions). Prepare a statement of cash

pls solve quickly
pls solve quickly Year 1 Presented below are the comparative December 31

Year 1 Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in Millions). Prepare a statement of cash flows for December 31, Year 2 using the indirect method Dubai Industries, Inc Balance Sheets At December 31. Year 2 and Year 1 Year 2 Cash 596,719 $28,694 Accounts Receivable 100.000 85,313 Inventory 206,250 181.250 Prepaid Insurance 1,875 2.500 Land, Buildings, and Equipment 1.562.500 1.406,250 Accumulated Depreciation (762,500) (715.000) Investments 19.375 106.250 Total Assets $1.224.219 $1.095 256 Accounts Payable Salaries Payable Notes Payable 595 425 25,000 31.250 $185,838 30,625 93.750 Bonds Payable Common Stock 250.000 375.000 375,00 Retained Earnings 447,544 410.044 $1.224.219 $1.095.256 Additional information for Year 2 (1) Sold available for sale securities costing 586,875 for $92,500. (2) Equipment costing $25000 with a book value of $6.250 was sold for $7.500 (3) Issued 86 bonds at face value for $250,000 (4) Purchased new equipment for $181.250 and paid cash. (5) Paid cash dividends of $25.000 (6) Net Income was $62,500. What is the net cash provided or used by operating activities? 13225 (13225) 90413 O (90413)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!