Question: solve this plzz Question one: Use the indirect method to prepare the cash flow statement for True Sandpaper Co. for the year ended Dec 31st,
Question one: Use the indirect method to prepare the cash flow statement for True Sandpaper Co. for the year ended Dec 31st, 2019 True Sandpaper Co. Balance Sheets For the Years Ended 2018 and 2019 2019 2018 Assets Cash $ 800 $ 600 Marketable securities 200 200 Accounts receivable 1,200 1,000 Inventories 2,000 1,800 Gross fixed assets 3,000 2,800 Less Accumulated Depreciation 1,000 800 Net fixed assets $2,000 $2,000 Total assets $6,200 $5,600 Liabilities Accounts payable 200 100 Notes payable 800 900 Accruals 100 100 Long-term debt 2,000 1,500 Stockholders' equity Common stock at par 500 Paid-in capital in excess of par 2,000 Retained earnings 600 500 Total liabilities and equity $6,200 $5,600 Net profits after taxes for 2015: $150.00 500 2,000
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