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----------------------------- 2- Presented below are data taken from the records of Alee Company December 31 December 31 2014 2013 Cash Current assets other than cash
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Presented below are data taken from the records of Alee Company December 31 December 31 2014 2013 Cash Current assets other than cash Long-term investments Plant assets $14,650 84,570 9,280 334,880 $443,380 $10,310 58,330 53,240 215,250 $337,130 $40,000 22,420 Accumulated depreciation Current liabilities Bonds payable Capital stock Retained earnings $20,410 39,680 74,550 252,200 56,540 $443,380 252,200 22,510 $337,130 Additional information: 1. Held-to-maturity securities carried at a cost of $43,960 on December 31, 2013, were sold in 2014 for $33,200. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $60,040 and were 80% depreciated were sold during 2014 for $7,590. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings 3. Net income as reported on the income statement for the year was $59,310 4. Dividends paid amounted to $10,102 5. Depreciation charged for the year was $28,442 Prepare a statement of cash flows for the year 2014 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).)Step by Step Solution
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