Textbook Problem

Spreadsheet and Statement The following 2019 information is available for Stewart Company:

Partial additional information:

• The equipment that was sold for cash had cost $400 and had a book value of $300.
• Land that was sold brought a cash price of $530.
• Fifty shares of stock were issued at par.

Required:

Making whatever additional assumptions that are necessary,

1. 1. Prepare a spreadsheet to support a 2019 statement of cash flows for Stewart.
2. 2. Prepare the statement of cash flows.