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The comparative balance sheets and income statements for Jordan Company follow: Balance Sheets As of December 31 Year 2 YearStatement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: Less: Increase/Decrease

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Statement of Cash Flows-Indirect Method
For the Year Ended December 31, Year 2
Cash flows from operating activities:
Net income $           19,303
Adjustments to reconcile net income to  
net cash provided by operating activities:
Depreciation expense $           3,872
Gain on sale of Equipment -$              500
Loss on disposal of land $                70
Increase in Accounts receivable -$              845
Increase in inventory -$              405
Decrease in accounts payable -$           1,577
$                615
Net cash from Operating Activities $           19,918
Cash flows from investing activities:
Cash received for sale of Equipment $         18,321
Cash used on purchase of Equipment -$           6,920
Cash received for sale of Land $           3,100
Net cash from Investing Activities $           14,501
Cash flows from financing activities:
Dividends paid -$           9,652
Repayment of long term debts -$           3,632
Net cash from Financing Activities -$           13,284
Net change in cash during the year $           21,135
Add: Beginning cash balance $             2,635
Ending cash balance $           23,770
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