Question
Cash Flow Statement Using the data below, prepare a statement of cash flows (indirect method) for Hanger Corporation for the year 2018 December 31 2018
Cash Flow Statement
Using the data below, prepare a statement of cash flows (indirect method) for Hanger Corporation for the year 2018
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| December 31 |
|
|
| 2018 | 2017 |
| Cash | 72,000 | 26,000 |
| Account Receivable | 98,500 | 76,900 |
| Inventory | 145,000 | 165,000 |
| Prepaid rent | 6,800 | 6,100 |
| Land | 110,000 | 70,000 |
| Building | 268,000 | 226,000 |
| Accumulated depreciation | (29,000) | (9,000) |
| Equipment | 15,000 | 30,000 |
|
| 686,300 | 591,000 |
|
|
|
|
| Accounts Payable | 89,000 | 83,000 |
| Salaries Payable | 49,500 | 59,900 |
| Bonds payable | 115,000 | 60,000 |
| Common stock | 110,000 | 110,000 |
| Retained earnings | 332,800 | 281,100 |
| Treasury stock at cost | (10,000) | (3,000) |
|
| 686,300 | 591,000 |
|
| For 2018 Year |
|
| Net Income | 75,300 |
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| Depreciation expense | 20,000 |
|
| Cash dividends declared and paid | 23,600 |
|
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