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Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting
Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease llability are paid each January 1 , beginning in 2018 . b. During 2018 , equipment with a cost of $240,000(90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $165,000 and $430,000 for stock dlvidends and cash dividends. respectively Required: Prepate the statement of cash flows for Metagrobolize Industries using the indirect method. (Enter your answers in thoussands. (i.e. 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.)
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