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Please expain your solutions Question 6(15 marks): Compulsory XYZ Corp.'s statement...

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Accounting

Please expain your solutions
Question 6(15 marks): Compulsory
XYZ Corp.'s statement of financial position accounts as of December 31,2016 and 2015 and information relating to 2016 activities are presented below.
Net income for 2016 was $1,500,000.
Any cash dividends were declared and paid in the same year.
Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2016 for $360,000.
A long-term investment was sold in 2016 for $320,000. There were no other transactions affecting long-term investments in 2016.
20,000 ordinary shares were issued in 2016 for $25 a share.
Short-term investments consist of treasury bills maturing on 6/30/17.
Required:
For XYZ Corp:
Prepare the Cash Flows Statement (in proper format) for the year 2016
PLEASE SEE THE PICTURE BECUASE NOT ALL INFORMATION ARE AVAILABLE HERE

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