Reference no: EM132515032

Question 1: Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows. Prepare cash flow statement using the indirect method. Properly title the statement.

                                         2018                2017

Cash balance                           $113,500       $37,500

Net income                               142,500           162,000

Depreciation Expense                  42,000                  35,000

Purchase of Plant Assets               135,000               125,000

Disposal of Plant Assets                  40,000                 50,000

Gain (Loss) on Disposal of Plant Assets (10,000)               5,000

Accounts Receivable Balance                 64,500              58,000

Accounts Payable Balance                     42,000               39,000

Interest Expense                                   8,000                6,000

Income Taxes Paid                                   35,000               28,000

Dividends Paid                                        30,000                 25,000

Common Stock Issued for Cash                 20,0000