Reference no: EM132951236
Ramos Corporation's comparative balance sheets are presented below: Ramos Corporation Comparative Balance Sheets Dec.11, 2019
2019 2018
Cash P 15,200 P 17,700
Accounts Receivable 25,200 22,300
Investments 20,000 16,000
Equipment 60,000 70,000
Accumulated Depreciation- Equipment ( 14,000) (10,000)
Total 106,400 116,000
Liabilities and Stockholder's Equity
Accounts Payable P 14,600 P 11,100
Bonds Payable 10,000 30,000
Common Stock 50,000 45,000
Retained Earnings 31,800 29,900
Total 106,400 116,000
Additional information:
1. Net income was P 18,300. Dividends declared and paid were P 16,400.
2. Equipment which cost P10,000 and had accumulated depreciation of P1,200 was sold for P3,300.
3. No noncash investing and financing activities occurred in 2019.
Problem 1: Create a Statement of Cash Flows for 2019 using the indirect method.
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