Reference no: EM132937833
Question - Cash Flow Statement - Operations Section A review of the Financial Statements indicates the following items:
Next Company uses the Indirect Method to prepare the Statement of Cash Flows.
Gain on Sale of Plant Assets $6,000
Current Assets (other than cash) increased by $36,000
Net Income for year ended 12/31/20 $73,500
Sold Equipment at Book Value $14,000
Account Payable decreased by $1,500
Issued Long Term Notes Payable $12,000
Purchased new Machinery (Valued at $9,000) in exchange for 2000 shares of $1 PV Common Stock
Depreciation Expense $18,000
REQUIRED - Using Proper Form, Prepare the Cash Flow Operations Section at 12/31/20?
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