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

4.31 continued.

b.QUEBEC COMPANY

Statement of Cash Flows

For Year 3

Operations:

Net Income$198,000

Additions:

Depreciation Expense192,000

Loss on Sale of Equipment4,000

Decrease in Accounts Receivable30,000

Increase in Accounts Payable6,000

Subtractions:

Increase in Merchandise Inventories(50,000)

Cash Flow from Operations$380,000

Investing:

Sale of Property, Plant, and Equipment$98,000

Acquisition of Property, Plant, and

Equipment(636,000)

Cash Flow from Investing(538,000)

Financing:

Issue of Bonds$90,000

Issue of Common Stock182,000

Dividends Paid(94,000)

Cash Flow from Financing178,000

Net Change in Cash$20,000

Cash, January 1, Year 3174,000

Cash, December 31, Year 3$194,000

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