Grand Corp.s 20X2 financial statements reflect the following: ...

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Accounting

Grand Corp.s 20X2 financial statements reflect the following:

Sales $ 370,000
Cost of goods sold $ 140,600
Depreciation 18,400
Other operating expenses 55,100
Income tax 31,700
Loss on sale of equipment 2,200
Gain on sale of investment (1,400 ) 246,600
Net earnings and comprehensive income $ 123,400

As at December 31 20X2 20X1
Cash $ 50,200 $ 39,900
Accounts receivable 64,800 74,400
Inventory 135,800 127,100
Equipment 402,500 344,400
Less: accumulated depreciation (167,100 ) (165,900 )
Investment 39,600 57,200
Total $ 525,800 $ 477,100
Accounts payable $ 44,900 $ 75,300
Income tax payable 7,200 5,100
Bonds payable 33,100 0
Common shares 222,500 222,500
Retained earnings 218,100 174,200
Total $ 525,800 $ 477,100

Additional information:

During the year, equipment with an original cost of $72,200 was sold for cash.

Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.)

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