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Use the following information for first corp complete the

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Use the following information for First Corp. complete the statement of Cash Flows (indirect method) for the year ended December 31, 2009. Clearly label each item as cash inflow or.

  • Cash at 1/1/09: $ 14,000
  • Net Income: $35,000
  • Dividends Paid: $11,000
  • Purchase of land: $100,000
  • Decrease in accounts payable: $12,000
  • Issuance of common stock: $60,000
  • Decrease in accounts receivable: $7,000
  • Proceeds from sale of investments: $27,000
  • Increase in inventory $5,000
  • Loss on sale of investments: $3,000
  • Increase in salaries payable: $6,000
  • Depreciation expense: $10,000
  • Redemption of bonds payable: $24,000
  • Collection of long-term note receivable: $22,000
  • Purchase land by issuing common stock: $40,000

 

Reference no: EM13582252

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