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Unformatted text preview: $ Accounts receivable 15,000 Equipment 50,000 Total assets 69,000 $ Liabilities Rent payable 1,000 $ Notes payable 30,000 Total liabilities 31,000 $ Stockholders' equity Capital stock 10,000 $ Retained earnings 28,000 Total stockholders' equity 38,000 Total Liabilities and equity 69,000 $ 1 of 2 I-01.09 (a) Is the company currently able to declare and pay the dividend? Why or why not? (b) Explain why net income can differ from cash provided by operations. (c) In addition to operating activities, what other "categories" of business activity can generate or expend cash? Provide examples for each category. (d) Prepare a statement of cash flows for Harish Company for the year ending December 31, 20X1. 2 of 2...
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