Use the Following Financial Statements and Additional Information to (1)prepare

question 216

Essay

Use the following financial statements and additional information to (1)prepare a statement of cash flows for the year ended December 31,20X2 using the indirect method,and (2)compute the company's cash flow on total assets ratio for 20X2.
Additional Information
a.A $20,000 note payable is retired at its carrying value in exchange for cash.
b.The only changes affecting retained earnings are net income and cash dividends paid.
c.New equipment is acquired for $120,000 cash.
d.Received cash for the sale of equipment that had cost $85,000,yielding a gain of $4,700.
e.Prepaid expenses relate to Other Expenses on the income statement.
f.All purchases and sales of merchandise inventory are on credit.

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Definitions:

Vocal Pitch

The perceived frequency of a voice, which can influence perceptions of the speaker's emotional state, physical size, and social dominance.

Deception

The act of misleading or falsely representing information to manipulate the perception or understanding of others.

Speech Convergence

Accent or speech style shift towards that of the other person.

Exit Behaviour

Actions individuals take to leave situations or roles that are unsatisfactory, such as quitting a job or ending a relationship.