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Cash Flows Statement (20pts): Please prepare the section of cash flow from operating activities for Cowboy Country Diner with the information provided below. The net income for 20x6 was $30,000, and with some additional accounts balances: revenues at $1 Million, cost of food at $340,000, labor at $350,000, depreciation at $5,000, and a loss in sale of equipment at $10,000. Cowboy Country Diner Balance Sheets Year Ending December 31, 20x5 and 20x6 ASSETS Current assets 20x5 20x6 Cash Accounts receivable Inventories Prepaid insurance 423,760 236,540 210,000 36.000 $295,614 206,540 170,000 0,000 Total current assets Property, plant & equip. $300,000 860,000 430,000 $1,590,000 300.000 $1.290360 300,000 860,000 450.360 $1,610,360 Land Building Equipment Less: Accumulated depreciation Total property, plant & equipment $2.196.300 1.992.514 Total Assets LIABILITIES Current liabilities $175,000 $186,300 50.000 $60,014 4,500 $64,514 Accounts payable Interest payable Total current liabilities Long-term liabilities Total liabilities STOCKHOLDERS' EQUITY Long-term note payable 214 514 $60,000 Common stock ($1 par) Paid-in capital in excess of par Retained earnings $60,000 1,000,000 %1,960,000 218000 196.300 Si992Sg Total stockholders' equity Total Liabilities and equity

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