Reference no: EM132533496
Question - Delatorre Company, a retailer, recently finished it's 2021 operations. Prepare the cash flow statement using the indirect method only.
1. Net income was $114,975.
2. Accounts receivable increased $15,375.
3. Inventory increased $21,250.
4. Prepaid expenses decreased $875.
5. Acquisition of a building by issuing common stock $125,000.
6. Accounts payable decreased $28,500.
7. Depreciation expense was $18,750.
8. Sold equipment for $11,625 cash and there was a loss for this of $5,125.
9. Purchased equipment for $30,000 cash.
10. Borrowed $4,000 cash by signing a note payable.
11. Paid $50,125 to redeem a bond payable.
12. Purchased equipment by signing a note payable $55,000.
13. Issued 2,500 shares of stock for $20 cash.
14. Paid a cash dividend for $50,100.
15. Beginning cash was 76,625.
16. Ending Cash is $86,625.