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1. Prepare Granger Tool & Die Companys statement of cash flows for the year ended December 31, 2016 using the indirect method. 2. Evaluate Granger
1. Prepare Granger Tool & Die Companys statement of cash flows for the year ended December 31, 2016 using the indirect method.
2. Evaluate Granger Tool & Die Companys cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation.
ercise Statement of Cash Flows Preparation- Indirect Method The income statement and additional data of Granger Tool & Die Company follow: Granger Tool & Die Company Income Statement Year ended December 31, 2016 Revenues: Service revenue $273,000 Dividend revenue 8,700 $281,700 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense Interest expense Income tax expense 135,000 59,000 28,000 2,900 2,100 16,400 243,400 $ 38,300 Net IncomeStep by Step Solution
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