The following information is taken from the accounting records of the Gilford Corporation.Use this information to prepare Gilford's statement of cash flows for the year ended December 31,2016. Additional information:
(a)Plant construction costing $40,000 in cash was completed.
(b)Equipment was purchased for $20,000 in cash.
(c)Common stock was sold for $50,000 in cash.
(d)Bonds were issued for $15,000 in cash.
(e)Common stock dividends of $20,000 were paid in cash.
(f)Net income after income taxes was $35,000.
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