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Blankley also provided the following information: The company sold equipment that had in original cost of $12 million and accumulated depreciation of $7 million. The
Blankley also provided the following information: The company sold equipment that had in original cost of $12 million and accumulated depreciation of $7 million. The cash proceeds from the sale were $7 million. The gain on the sale was $2 million. The company did not issue any new hoods during the year. The company paid a cash dividend during the year. The company did not complete any common dock transactions during the year. Required: Using the indirect method, prepare a statement of cash flows for the year
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