Question

cash flow statement

Presented below is a condensed version of the comparative balance sheets for Garcia Corporation for the last two years at December 31.2010 2009

12/31/10 12/31/009
Cash $442500 $195000
Accounts receivable 450000 462500
Investments 130000 185000
Equipment 745000 600000
Less: Accumulated depreciation (265000) (222500)
Current liabilities 335000 377500
Capital stock 400000 400000
Retained earnings 767500 442500

Additional information:
Investments were sold at a loss (not extraordinary) of $25,000; no equipment was sold; cash dividends paid were $75,000; and net income was $400,000.
Prepare a statement of cash flows for 2010 for Garcia Corporation.

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