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Question 2 (10 points) The following is the comparative statement of cash flows for the Glass Slipper Shoe Company Limited: Glass Slipper Shoe...
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Required: Identify 5 strengths or weaknesses for the Glass Slipper Shoe Company Limited based on the above Statement of Cash Flows. Indicate why it is a strength or weakness. There must be at least one strength and one weakness.

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Question 2 (10 points)
The following is the comparative statement of cash flows for the Glass Slipper Shoe
Company Limited:
Glass Slipper Shoe Company Limited
Statement of Cash Flows
Year ended July 31, 2019
2019
2018
Cash flows from operating activities:
Net income
$80,000
$120,000
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation
12,500
10,000
Gain on disposal of property, plant & equipment
(5,000)
(15,000)
Net decrease in current assets other than cash
30,000
20,000
Net (decrease) increase in current liabilities
(5,000)
15,000
Net cash provided by operating activities
112.500
150.000
Cash flows from investing activities:
Purchase of equipment
55,000)
(5,000)
Proceeds from sale of equipment
20.000
55.000
Net cash used in investing activities
(35,000)
50,000
Cash flows from financing activities:
Issuance of long term note payable
30,000
0
Repayment of long-term debt
(22,000)
(20,000)
Payment of dividends
80,000)
(50,000)
Net cash used in financing activities
(72,000)
(70.000)
Net increase (decrease) in cash
5,500
130,000
Beginning cash balance
105,500
(24,500)
Ending cash balance
$111.000
$105.500

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