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Matthauson Company Has the Following Comparative Balance Sheet Data Available

Question 16

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Matthauson Company has the following comparative balance sheet data available:
Matthauson Company has the following comparative balance sheet data available: Additional information: 1.The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31,2019. 2.Dividends declared and paid in 2019,$70,000. 3.Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000. 4.New equipment was purchased for cash. 5.No common stock was retired during 2019. The company also reports the following income statement for the year ending December 31,2019: Using the direct method,prepare the statement of cash flows for the year ending December 31,2019. Additional information:
1.The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31,2019.
2.Dividends declared and paid in 2019,$70,000.
3.Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000.
4.New equipment was purchased for cash.
5.No common stock was retired during 2019.
The company also reports the following income statement for the year ending December 31,2019:
Matthauson Company has the following comparative balance sheet data available: Additional information: 1.The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31,2019. 2.Dividends declared and paid in 2019,$70,000. 3.Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000. 4.New equipment was purchased for cash. 5.No common stock was retired during 2019. The company also reports the following income statement for the year ending December 31,2019: Using the direct method,prepare the statement of cash flows for the year ending December 31,2019. Using the direct method,prepare the statement of cash flows for the year ending December 31,2019.
Matthauson Company has the following comparative balance sheet data available: Additional information: 1.The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31,2019. 2.Dividends declared and paid in 2019,$70,000. 3.Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000. 4.New equipment was purchased for cash. 5.No common stock was retired during 2019. The company also reports the following income statement for the year ending December 31,2019: Using the direct method,prepare the statement of cash flows for the year ending December 31,2019.

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