Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in 5 Millions)....
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Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in 5 Millions). Prepare a statement of cash flows for December 31, Year 2 using the $ indirect method. Cash Accounts Receivable Inventory Prepaid Insurance Land, Buildings, and Equipment Accumulated Depreciation Investments Total Assets Accounts Payable Salaries Payable Notes Payable Bonds Payable Common Stock Retained Earnings Dubai Industries, Inc Balance Sheets At December 31, Year 2 and Year 1 Additional information for Year 2 (1) Sold available for sale securities costing $86,875 for $92,500. (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 O (13225) O90413 O (90413) Year 2 $96,719 100,000 206,250 1,875 1,562,500 (762,500) $95,425 25,000 31,250 19.375 106,250 $1.224.219 $1.095.256 250,000 375,000 (2) Equipment costing $25,000 with a book value of $6,250 was sold for $7,500 (3) Issued 8% bonds at face value for $250,000. Year 1 $28,694 85,313 181,250 2,500 1,406,250 (715,000) 375,000 447.544 410.044 $1.224.219 $1.095.256 $185,838 30,625 93,750 Presented below are the comparative December 31 financial statements for Dubai Industries, Inc. (in 5 Millions). Prepare a statement of cash flows for December 31, Year 2 using the $ indirect method. Cash Accounts Receivable Inventory Prepaid Insurance Land, Buildings, and Equipment Accumulated Depreciation Investments Total Assets Accounts Payable Salaries Payable Notes Payable Bonds Payable Common Stock Retained Earnings Dubai Industries, Inc Balance Sheets At December 31, Year 2 and Year 1 Additional information for Year 2 (1) Sold available for sale securities costing $86,875 for $92,500. (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 O (13225) O90413 O (90413) Year 2 $96,719 100,000 206,250 1,875 1,562,500 (762,500) $95,425 25,000 31,250 19.375 106,250 $1.224.219 $1.095.256 250,000 375,000 (2) Equipment costing $25,000 with a book value of $6,250 was sold for $7,500 (3) Issued 8% bonds at face value for $250,000. Year 1 $28,694 85,313 181,250 2,500 1,406,250 (715,000) 375,000 447.544 410.044 $1.224.219 $1.095.256 $185,838 30,625 93,750
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