Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. Additional information for

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Presented below are the 2021 income statement and comparative balance sheets for Santana Industries.

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Additional information for the 2021 fiscal year ($ in thousands):1. Cash dividends of $1,000 were declared and paid.2. Equipment costing $4,000 was purchased with cash.3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.4. Depreciation of $1,600 is included in operating expenses.

Required:Prepare Santana Industries? 2021 statement of cash flows, using the indirect method to present cash flows from operating activities. Use a format similar to the one in the Concept Review Exercise at the end of Part B of this chapter.

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Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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