Question
CanTech Supply reported the following on its 2015 income statement. Using the income statement and the balance sheet given below, prepare the statement of cash
CanTech Supply reported the following on its 2015 income statement. Using the income statement and the balance sheet given below, prepare the statement of cash flows using the indirect method. For simplicity, ignore the required disclosures for cash flows associated with interest paid and received, dividends paid and received and income taxes as well as any non-cash disclosures that may have occurred in the current year. Please make sure your final answer(s) are accurate to 2 decimal places.
Analysis of accounts: Retired bonds, paid $5,000 cash. Sold HTM investment in XYZ Co. common shares for $10,000 cash. Purchased equipment, $72,500 cash. Sold furniture, and settled in cash. Purchased additional highly liquid HFT investment, $13,500 cash. Note: This company's HFT investments are not subject to a significant amount of risk and are considered a cash equivalent. Paid cash dividends. Retired common shares, 1,375 shares at $8 cash per share. Changes in other balance sheet accounts resulted from usual transactions and events.
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