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nikdorinn [45]
3 years ago
8

Condensed financial data of Monty Company for 2020 and 2019 are presented below.

Business
1 answer:
bija089 [108]3 years ago
7 0

Answer:

                       Monty Company

                 Statement of Cash Flows

                      December 31, 2020

Cash flows from operating activities

Net income                                                           $790

Adjustments to reconcile net income                  $40

+ depreciation expense $40

+ decrease in inventory $260

+ increase in accounts payable $300

- gain from sale of investments ($80)

- increase in accounts receivable ($430)

<u>- decrease in accrued liabilities ($50)                         </u>

<u />

Net cash flow from operating activities               $830

Cash flows from investing activities

Sale of long term investments                               $140

Gain from sale of investments                                 $80

<u>Purchases of P, P & E                                            ($190)</u>

Net cash flow from investing activities                    $30

Cash flow from financing activities

Issuance of Common Stocks                                  $210

- Payments of long term debt                               ($160)

- Dividends paid                                                    ($260)

Net cash from financing activities                        ($210)

Net increase in cash                                                $650

<u>+ Beginning cash balance                                     $1,160</u>

Ending cash balance                                             $1,810

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