From the following income statement (Figure 21.12 ), balance sheet (Figure 21.13 ), and additional data for

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From the following income statement (Figure 21.12 ), balance sheet (Figure 21.13 ), and additional data for Salmon Company, prepare a statement of cash flows using the indirect method.

Income Statement for Salmon

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Balance Sheet for Salmon

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Additional Data

1. All Plant and Equipment were purchased with cash.

2. Sold additional 5,500 shares of stock for cash at par.

3. A $2,000 dividend was declared and paid.

4. Short-term notes used to finance inventory.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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