Long Question 2 Suggested time: 30 minutes (Total points: 30 points) ou must show ALL work to receive full (or partial) credit. A comparative balance sheet for Hartman Corporation is presented DEO HARTMAN CORPORATION Comparative Balance Sheet 2018 2017 Assets Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid insurance Land Equipment Accumulated depreciation Total Assets $ 46,000 90,000 (20,000) 15,000 10,000 18,000 70,000 (20,000) $209,000 $ 31,000 75,000 (15,000) 6,000 11,000 40,000 60,000 (13.000 $195.000 Liabilities and Stockholders' Equity Accounts payable $ 10,000 Interest payable 1,000 Bonds payable 27,000 Common stock 136,000 Paid-in Capital in Excess of Par 4,000 Retained earnings 31,000 Total liabilities and stockholders' equity $209,000 $ 4,000 2,000 19,000 115,000 55,000 $195.000 Additional information: 1. Net loss for 2018 is $10,000. 2. Only cash dividends were declared and paid in 2018. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year. 6. 15,000 shares of $1 common stock were issued in exchange for equipment. The fair value of the equipment was $15,000. 7. All bonds were issued at par. 8. All other changes in noncurrent account balances had a direct effect on cash flows, except for the change in accumulated depreciation. Required: Parts A, B and C. Instructions Prepare a statement of cash flows for the year ended 2018, using the indirect method. Part A: Show work below for the Cash Flow from Operating Activities (16 points: Clearly show work below. rart 1: Show work below for the Cash Flow from Investing Activities (7 points Clearly show work below. Part C: Show work below for the cash flow from Financing Activities (7 points): Clearly show work below.
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