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Could you please me solve The cash flow statement using the Direct Method please. Problem: Set A CHAPTER 17 partie balance sheet for Dlatessaron Inc.

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Could you please me solve The cash flow statement using the Direct Method please.

Problem: Set A CHAPTER 17 partie balance sheet for Dlatessaron Inc. a 243 A Presented below is the com ASPEat December 31, 2017 and 2016: co m porting Prepare cash flow statement- indirect method. (LO) AP DLATESSARON INC Balance Sheet December 31 Assets 2017 2016 Cash Accounts receivable 155.500 Long-term investment Property, plant, and equipment Les Accumulated depreciation 535.000 (162.500 $847.000 (140,000 $57.500 47.0 Lilities and Shareholders' Equity Accounts payable Dividends payable Income tax payable Long-term notes payable Common shares Retained carning 15.00 630,000 114500 $817.000 525.00 61 300 DIATESSARON INC. Income Statement Year Ended December 31, 2017 Sales Cost of goods sold $663.000 432.000 231.000 $147.500 3,000 150,500 BO 500 Gross profit Operating expenses Loss on sale of equipment Profit from operations Interest expense Interest revenue Profit before income tax Income tax expense Profit 3.000 (4,500) (1.500) 14.000 ares for cash on March 2, 2017. The fair value of the shares was 510 per Additional information: 1. Cash dividends of $15,000 were declared. 2. A long-term investment was acquired for cash at a cost of $101,500. 3. Depreciation expense is included in the operating expenses. we company issued 10,500 common shares for cash on March 2, 2017. The fair value of me share. The proceeds were used to purchase additional equipment "ment that originally cost $30,000 was sold during the year for cash. They of $9,000 at the time of sale. The company issued a note payable for $28,000 and repaid $3,000 by.ca Instructions pure a cash flow statement for the year using the indirect method was sold during the year for cash. The equipment had a carrying value AKING IT FURTHER Is it necessary to show both the prou ument of notes payable? Or is it sufficient to simply show cone with accounts payable? Explain on the proceeds from issuing a new note payable and the partial o simply show the net increase or decrease in notes payable, as is Prepare cash flow statement- direct method. (LO3) AP 17 LA

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