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Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash.
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:
a. The investments were sold for $175,000 cash. | |
b. Equipment and land were acquired for cash. | |
c. There were no disposals of equipment during the year. | |
d. The common stock was issued for cash. | |
e. There was a $500,000 credit to Retained Earnings for net income. | |
f. There was a $90,000 debit to Retained Earnings for cash dividends declared. |
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. |
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