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From the following balance sheet information and other data, prepare a statement of cash flows for Brown Company, using the indirect method:
12/31/19A
12/31/19B
Cash
$ 1,800
$ 2,830
Accounts Receivable
3,050
2,950
Prepaid Insurance
4,310
5,490
Investment in Green Company (equity method)
600
730
Investment in Blue Company (cost method)
1,000
Land
2,000
3,500
Machinery
6,060
6,240
Accumulated Depreciation
(1,070)
(1,390)
Patents
200
160
Total Assets
$17,950
$21,510
Wages Payable
$ 5,630
$ 6,040
Note Payable (Long-term)
-
1,500
Bonds Payable
2,100
1,600
Deferred Taxes Payable
300
410
Common Stock
Preferred Stock
4,000
4,300
Paid-in Capital in Excess of Par-Preferred
1,750
2,260
Retained Earnings
3,340
4,400
Treasury Stock (cost method)
(170)
Total Liabilities and Stockholders' Equity
Other Data:
(1) Net income
$1,490
(2) Depreciation expense
530
(3) Equity in Green Company net income
130
(4) Loss on sale of machinery
50
(5) Amortization of patents
40
(6) Dividends paid (cash)
430
(7) Machinery with a cost of $450 and a book value of $240 was sold for $190.
(8) Machinery was purchased for $630.
(9) Treasury stock was sold for $250 cash.
(10) Land with a fair market value of $1,500 was purchased by the issuance of a long-term note payable.
(11) Preferred stock was issued for $230 cash.
(12) The remaining changes in the Preferred Stock account and in the Paid-in-Capital in Excess of Par account resulted from the issuance of preferred stock to retire $500 of bonds payable.
Financial Statement Analysis and Preparation
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