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ABC Co has requested you prepare their statement of cash flows using the indirect method for operating cash flows for 2018. They have provided the
ABC Co has requested you prepare their statement of cash flows using the indirect method for operating cash flows for 2018. They have provided the following information: | 12/31/18 | 12/31/17 | Change Cash $30,000 $ 7,000 $23,000 Accounts Receivable | 18,000 16,000 L 2,000 Prepaid Insurance 6,000 7,000 (1,000) Salaries Payable 5,000 8,000 (3,000) ABSs net income for the period was $32,500. ABC paid dividends to shareholders of $5,000. ABC received payment on a note receivable for $3,000. ABC purchased a delivery truck for their business for $15,000. ABC issued bonds for $18,000. ABC's depreciation expense was $5,500. ABC purchased their own common stock for $4,000. ABC purchased XYZ's stock as an investment for $8,000. Company Name - ABC Statement of Cash Flows For the Year Ended - 12/31/2018 Cash Flows from Operations (Indirect) Net Cash Flow from Operations Cash Flows from Investing Activities: Net Cash Flow from Investing Cash Flows from Financing Activities: Net Cash Flow from Financing Net Change in Cash Beginning Cash Balance Ending Cash Balance
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