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4 ) please answer. I will give a good rate Problem 15-14 (Algo) Prepare and Interpret a Statement of Cash Flows [LO15-1, LO15-2] A comporative
4 ) please answer. I will give a good rate
Problem 15-14 (Algo) Prepare and Interpret a Statement of Cash Flows [LO15-1, LO15-2] A comporative balance sheet for Lomax Compony containing data for the last two years is as follows: The following additional information is available about the company's sctivities during this year: a. The company declared and paid a cash dividend this year. b. Bonds with a principal bolance of $392,000 were repoid during this yeor. c. Equipment was sold during this year for $76,000. The equipment had cost $154,000 and had $54,400 in accumulated depreciation on the date of sole. d. Long-term investments were sold during the year for $134,000. These investments had cost $60,800 when purchased several years ago. e. The subsidisries did not repoy any outstanding losns during the year. f. Lomax did not repurchase any of its own stock during the year. The compony reported net income this year as follows: Required: Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash outflows as negative amounts.)Step by Step Solution
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