Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Comparative Balance...
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Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Comparative Balance Sheet Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings A Total liabilities and stockholders' equity Sales Income Statement Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 900 569 331 179 152 35 $ 117 Ending Balance Beginning Balance $ 46 78 $ 49 83 59 60 472 398 206 172 $ 449 $ 418 $ 61 208 59 121 $ 63 278 58 19 $ 449 $ 418 The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $15. Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts. Thunder Corporation's balance sheet and income statement appear below: Assets: Cash and cash equivalents Comparative Balance Sheet Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings A Total liabilities and stockholders' equity Sales Income Statement Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 900 569 331 179 152 35 $ 117 Ending Balance Beginning Balance $ 46 78 $ 49 83 59 60 472 398 206 172 $ 449 $ 418 $ 61 208 59 121 $ 63 278 58 19 $ 449 $ 418 The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $15. Required: Prepare a statement of cash flows in good form using the indirect method. Note: List any deduction in cash and cash outflows as negative amounts.
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