Chapter 21, Problem 10E

Spreadsheet The following 2019 information is available for Payne Company:

Partial additional information: The net income for 2019 totaled $1,600. During 2019, the company sold, for $390, equipment that cost $390 and had a book value of $300. The company sold land for $200, resulting in a loss of $40. The remaining change in the Land account resulted from the purchase of land through the issuance of common stock.

Required:

Making whatever additional assumptions that are necessary, prepare a spreadsheet to support the 2019 statement of cash flows for Payne.