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STATEMENT OF CASH FLOWS:  REPORTING THE EFFECTS OF OPERATING, INVESTING, AND FINANCING ACTIVITIES ON CASH FLOWS   T4-X

4.31(Quebec Company; preparing a statement of cash flows over a 2-year period using a T-account work sheet.)

a.QUEBEC COMPANY

Statement of Cash Flows

For Year 2

Operations:

Net Income$166,000

Additions:

Depreciation Expense174,000

Decrease in Merchandise

Inventories20,000

Subtractions:

Increase in Accounts Receivable(20,000)

Decrease in Accounts Payable(2,000)

Cash Flow from Operations$338,000

Investing:

Sale of Property, Plant, and Equipment$88,000

Acquisition of Property, Plant, and

Equipment(342,000)

Cash Flow from Investing(254,000)

Financing:

Issue of Common Stock$92,000

Dividends Paid(80,000)

Retirement of Bonds(32,000)

Cash Flow from Financing(20,000)

Net Change in Cash$64,000

Cash, January 1, Year 2110,000

Cash, December 31, Year 2$174,000

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