SUNLAND LTD | |||
Statement of Cash flows | |||
For the Year Ended December 31, 2018 | |||
Cash flows from operating activities | |||
Net Income | $ 98,700 | ||
Adjustments to reconcile net income to ; | |||
Depreciation expense | $ 32,000 | ||
Gain on sale of investment | $ (5,700) | ||
Increase in accounts receivable | $ (10,500) | ||
Decrease in inventory | $ 13,500 | ||
Decrease in accounts payable | $ (9,000) | ||
$ 20,300 | |||
Net cash provided by operating activities | $ 119,000 | ||
Cash flows from investing activities | |||
Cash received from Sale of investment | $ 36,700 | 110000-79000+5700 | |
Cash paid to purchase of equipment | $ (109,000) | 156000-265000 | |
Net cash used by investing activities | $ (72,300) | ||
Cash flows from financing activities | |||
Cash paid for bank loan | $ (58,000) | ||
Payment of dividends | $ (11,700) | 219000-132000-98700 | |
Cash received from issuance of common stock | $ 48,000 | ||
Net cash used by financing activities | $ (21,700) | ||
Net Increase in cash | $ 25,000 | ||
Cash and cash equivalents at beginning of period | $ 29,000 | ||
Cash and cash equivalents at end of period | $ 54,000 |
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*Question 5 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement...
* Question 6 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement of Financial Position December 31 Assets 2018 Cash $54,000 Accounts receivable 85,000 Inventory 182,000 Long-term investments 79,000 Equipment 265,000 Accumulated depreciation (65,000) Total assets $600,000 2017 $29,000 74,500 195,500 110,000 156,000 (33,000) $532,000 Liabilities and Shareholders' Equity Accounts payable $36,000 Bank loan payable 126,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 45,000 184,000 171,000 132,000 $532,000 Additional...
* Question 6 The comparative unclassified statement of financial position for Sunland Ltd. follows: SUNLAND LTD. Statement of Financial Position December 31 Assets 2018 Cash $54,000 Accounts receivable 85,000 Inventory 182,000 Long-term investments 79,000 Equipment 265,000 Accumulated depreciation (65,000) Total assets $600,000 2017 $29,000 74,500 195,500 110,000 156,000 (33,000) 5532,000 Liabilities and Shareholders' Equity Accounts payable $36,000 Bank loan payable 126,000 Common shares 219,000 Retained eamings 219,000 Total liabilities and shareholders' equity $600,000 $ 45,000 184,000 171,000 132,000 $532,000 Additional...
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