The following information is available for Stamos Corporation for the year ended December 31, 2020 Beginning cash balance Accounts payable decrease Depreciation expense Accounts recelvable increase Inventory increase $44,000 3,600 173,000 8,700 12,000 Net income 289,700 Cash received for sale of land at book value 39,000 Cash dividends paid 11,000 Income taxes payable increase 4,900 Cash used to purchase building 270,000 Cash used to purchase treasury stock 25.000

The following information is available for Stamos Corporation for the year ended December 31, 2020 Beginning cash balance Accounts payable decrease Depreciation expense Accounts recelvable increase Inventory increase $44,000 3,600 173,000 8,700 12,000 Net income 289,700 Cash received for sale of land at book value 39,000 Cash dividends paid 11,000 Income taxes payable increase 4,900 Cash used to purchase building 270,000 Cash used to purchase treasury stock 25.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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