FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:2019
2020
2019
2020
Cash
$2,200
$1,000
Accounts payable
$3,100
$2,800
Accounts receivable
$4,600
$8,200
Utilities payable
$1,100
$1,800
Inventory
$3,100
$7,200
Wages payable
$500
$1,600
Prepaid insurance
$800
$1,600
Notes payable
$14,000
$16,000
Equipment
$36,000
$36,000
Interest payable
$2,000
$3,200
Accum. depreciation
($14,000) ($15,200)
Common stock
$9,000
$9,000
Land
$7,600 $10,200
Retained earnings
$10,600 $14,600
$40,300
$49,000
$40,300 $49,000
How much were fınancing cash flows during 2020 if net income was $87,000?
$2,000
$89,000
($81,000)
O ($83,000)
None of the above
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