A. Fully depreciated equipment costing $60,000 was sscrapped, no salvage, and new equipment was purchased for $183,200.

B. Bonds Payable for $100,00 were retired by payment at their face amount

C. 5,000 shares of common stock were issued at $13 for cash

D. Cash dividends declared and paid, $25000

F. Prepare a Statement of cash flow, Useing the Indirect Method

Stmt Cash Flow Indirect Method The comparative balance sheets of Posner Company, for Years 1 and 2 ended December 31, appear below in condensed form Year 2 Year 1 S 53,000 50,000 Cash Accounts receivable (net) Inventories Investments Equipment Accumulated depreciation-equipment 37,000 48,000 100,000 70,000 450,000 142.000) 176.000) $542.000 108,500 573,200 $629.700 $ 43,800 100,000 285,000 55,000 58.200 $542.000 S 62,500 Accounts payable Bonds payable, due Year 2 Common stock, $10 par Paidin capital in excess of par-common stock Retained earnings 325,000 80,000 162.200 $629.700 The income statement for the current vear is as follows $625,700 340.000 Sales Cost of merchandise sold $285,700 Gross profit Operating expenses: Depreciation expense $ 26,000 Other operating expenses $191,700 Income from operations Other income Gain on sale of investment $ 4,000 Other expense Interest expense (2.000) $189,700 60.700 $129.000 Income before income tax Income tax Net income Stmt Cash Flow Indirect Method The comparative balance sheets of Posner Company, for Years 1 and 2 ended December 31, appear below in condensed form Year 2 Year 1 S 53,000 50,000 Cash Accounts receivable (net) Inventories Investments Equipment Accumulated depreciation-equipment 37,000 48,000 100,000 70,000 450,000 142.000) 176.000) $542.000 108,500 573,200 $629.700 $ 43,800 100,000 285,000 55,000 58.200 $542.000 S 62,500 Accounts payable Bonds payable, due Year 2 Common stock, $10 par Paidin capital in excess of par-common stock Retained earnings 325,000 80,000 162.200 $629.700 The income statement for the current vear is as follows $625,700 340.000 Sales Cost of merchandise sold $285,700 Gross profit Operating expenses: Depreciation expense $ 26,000 Other operating expenses $191,700 Income from operations Other income Gain on sale of investment $ 4,000 Other expense Interest expense (2.000) $189,700 60.700 $129.000 Income before income tax Income tax Net income