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A comparative balance sheet for Sandhill Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land
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SANDHILL CORPORATION
Cash Flow Statement
For year ended 31st December 31 2019
A. Cash Flows from Operating Activity
Net Income $              128,640
Adjustments to reconcile net income to  
net cash flow from operating activities:
Depreciation expense $                 26,890
Increase in Accounts receivables $              (15,890)
Decrease in Inventory $                   9,110
Decrease in accounts payables $              (13,110)
$                   7,000
Net cash flow from Operating activities $              135,640
B. Cash flows from Investing Activities
Sale of land $                 39,110
Purchase of Equipment $              (59,890)
Net cash flow used for investing activities $              (20,780)
C. Cash Flows from Financing activities
Cash paid for dividends $              (63,970)
Cash flows from Financing activities $              (63,970)
Net Increase (Decrease) in Cash [A+B+C] $                 50,890
Cash at the beginning $                 22,000
Cash at the end $                 72,890
Non cash transaction
Issue of common stock to retire $                 50,000 of bonds outstanding.
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