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Comparative balance sheets for International Company are presented below. Additional information: 1. Net income for 2017 was exist135,000. 2 Cash dividends of exist70,000 were declared
Comparative balance sheets for International Company are presented below. Additional information: 1. Net income for 2017 was exist135,000. 2 Cash dividends of exist70,000 were declared and paid. 3. Bonds payable amounting to exist50,000 were redeemed for cash exist50,000.4. Common stock was issued for exist50,000 cash. 5.Depreciation expense was exist24,000. 6 Sales revenue for the year was exist978,000. 7. Land was sold at cost,and equipment eas purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2017 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry
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