Reference no: EM132559338

Albion Construction Company had the following transactions during the year ended December 31, 2019:

Gain on sale of land                             $10,000

Depreciation                                       $31,000

Payment of dividends                           $15,000

Increase in accounts receivable              $25,000

Decrease in inventories                            $18,000

Increase in accounts payable                   $34,000

Decrease in income taxes payable               $6,500

Decrease in wages payable                        $2,200

Proceeds on Sale of Equipment                  $297,000

Repayment of bonds                              $268,000

Issuance of Common shares                    $100,000

Proceeds on sale of land                         $140,000

Net Loss                                              ($25,000)

Required:

Question 1: Prepare a cash flow statement for the year 2019