Question
Additional data related to 2025 are as follows. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold for $2,500
Additional data related to 2025 are as follows.\ Equipment that had cost
$10,900
and was
40%
depreciated at time of disposal was sold for
$2,500
.\
$10,000
of the long-term note payable was paid by issuing common stock.\ Cash dividends paid were
$4,900
.\ On January 1,2025 , the building was completely destroyed by a flood. Insurance proceeds on the building were
$30,200
(net of
$1,900
taxes).\ Debt investments (available-for-sale) were sold at
$1,700
above their cost. The company has made similar sales and investments in the past.\ Cash was paid for the acquisition of equipment.\ A long-term note for
$16,000
was issued for the acquisition of equipment.\ Interest of
$1,900
and income taxes of
$6,500
were paid in cash.\ Prepare a statement of cash flows 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)
.
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