Reference no: EM132637136
Question - Income statement data:
Sales $1,308,000
Depreciation expense 30,000
Net income 156,000
Cash receipts:
From issuance of common stock $56,000
From sale of plant assets (at book value) 10,000
From loan repayment by borrower 24,000
Cash payments:
For purchase of stock investment $44,000
To stockholders as dividends 90,000
Change in working capital accounts:
Cash increase $158,000
Accounts receivable decrease 24,000
Inventory increase 18,000
Accounts payable decrease 6,000
Accrued liabilities increase 16,000
The cash balance was $22,000 at the beginning of 20x1.
Required - How do create a statement of cash flows for the company using the INDIRECT method?
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: Income statement data: Sales $1,308,000. How do create a statement of cash flows for the company using the INDIRECT method
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