Reference no: EM132221288

Question - Condensed financial data of Shamrock, Inc. follow.

Shamrock, Inc. Comparative Balance Sheets December 31

Assets

2017 Cash $ 164,832

2016 $ 98,736

2017 Accounts receivable $179,112

2016 $77,520

2017 Inventory $229,500

2016 $209,814

2017 Prepaid expenses $57,936

2016 $53,040

2017 Long-term investments $281,520

2016 $222,360

2017 Plant assets $581,400

2016 $494,700

2017 Accumulated depreciation (102,000)

2016 (106,080)

2017 Total $1,392,300

2016 Total $1,050,090

Liabilities and Stockholders' Equity

2017 Accounts payable $ 208,080

2016 $ 137,292

2017 Accrued expenses payable $33,660

2016 $42,840

2017 Bonds payable $224,400

2016 $297,840

2017 Common stock $448,800

2016 $357,000

2017 Retained earnings $477,360

2016 $215,118

2017 Total $1,392,300

2016 $1,050,090

Shamrock, Inc. Income Statement Data For the Year Ended December 31, 2017

Sales revenue $792,458

Less: Cost of goods sold $276,338

Operating expenses, excluding depreciation $25,316

Depreciation expense $94,860

Income tax expense $55,651

Interest expense $9,649

Loss on disposal of plant assets $15,300

$477,114

Net income $ 315,344

Additional information:

1. New plant assets costing $204,000 were purchased for cash during the year.

2. Old plant assets having an original cost of $117,300 and accumulated depreciation of $98,940 were sold for $3,060 cash.

3. Bonds payable matured and were paid off at face value for cash.

4. A cash dividend of $53,102 was declared and paid during the year.

Required - What is the statement of cash flows using the indirect method?