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a.Net income for the year was $113,000. b.Dividends of $106,000 cash were declared and paid. c.Scoretecks only noncash expense was $83,000 of depreciation. d.The company
a.Net income for the year was $113,000.
b.Dividends of $106,000 cash were declared and paid.
c.Scoretecks only noncash expense was $83,000 of depreciation.
d.The company purchased plant assets for $83,000 cash.
e.Notes payable of $33,000 were issued for $33,000 cash.
Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating activities under the indirect method. (Enter all amounts as positive values.)
SCORETECK CORPORATION Spreadsheet for statement of Cash Flows-Indirect Method For Year Ended December 31, 2017 Dec. 31, Analysls of Change8 Dec. 31, 2016 Deblt Credit 2017 Balance Sheet Debit Bal. Accounts Cash Accounts receivable Inventory Plant assets 119,000 133,000 276,000 613,000 5 1,141,000 86,000 218,000 243,000 698,000 1,241,000 Balance SheetCredit Bal. Accounts Accumulated depreciation Accounts payable Nates payable Common stack Retained earnings 113,000 176,000 383.000 213,000 256,000 1,141,000 196,000 153,000 418,000 213,000 263,000 1,241,000 Statement af Cash Flows Operating activities Investing activities Financing activities 0 $Step by Step Solution
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