A comparative balance sheet for Rocker Company appears below. Rocker Company Comparative Balance sheet Additional information: 1.
Question:
Rocker Company
Comparative Balance sheet
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Additional information:
1. Net income for the year ending December 31, 2017 was $35,000.
2. Cash dividends of $15,000 were declared and paid during the year.
3. Long-term investments that had a cost of $17,000 were sold for $14,000. 1. Sales for 2017 were $120,000.
Instructions
Reparse a statement of cash flows for the year ended December 31, 2017, using the indirect method.
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...
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cash flow from operating activities net income Adjustment to reconcile net i...View the full answer
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