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Question

Lunar Optical has the following cash transactions for the period.

Accounts

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Amounts

Cash received for sale of services to customers

 $33,000

Cash paid for advertisement

    (5,000)

Cash received from the sale of an unused warehouse

  10,000

Cash paid to merchandise suppliers

  (15,000)

Cash received from sale of products to customers

  60,000

Cash paid to purchase factory equipment

  (60,000)

Cash received from the bank for long-term loan

  75,000

Cash paid for dividends to stockholders

  (10,000)

Cash paid to workers

  (30,000)


REQUIRED


1.Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $12,000.

2.Prepare a statement of cash flows.

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