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Chapman Company, a major retailer of bicycle and accessories, operates several stores and is a publicly traded company. The comparative statement of financial position and
Chapman Company, a major retailer of bicycle and accessories, operates several stores and is a publicly traded company. The comparative statement of financial position and income statement for Chapman are presented below.
Fnulity and I iahilitias CHAPMAN COMPANY Comparative Statement of Financial Position As of December 31 Additional data: 1. There were no write-offs of uncollectible accounts during the year. 2. Ordinary shares were issued in exchange for land. 3. Cash dividends were declared and paid during the year. 4. Equity investment that cost $35.000 were sold during the year. 5. Equipment that cost $10.000 and was 60% depreciated was sold in 2016 . Instructions: a. Prepare a statement of cash flows using the indirect method. b. Compute net cash provided by operating activities under the direct method. Fnulity and I iahilitias CHAPMAN COMPANY Comparative Statement of Financial Position As of December 31 Additional data: 1. There were no write-offs of uncollectible accounts during the year. 2. Ordinary shares were issued in exchange for land. 3. Cash dividends were declared and paid during the year. 4. Equity investment that cost $35.000 were sold during the year. 5. Equipment that cost $10.000 and was 60% depreciated was sold in 2016 . Instructions: a. Prepare a statement of cash flows using the indirect method. b. Compute net cash provided by operating activities under the direct methodStep by Step Solution
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