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Dragon Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just
Dragon Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Click the icon to view the data.) Requirement Prepare a statement of cash flows for the past year using the indirect method. Prepare the statement one section at a time. (Use parentneses or a minus sign for numbers to pe subtracte - X Data table Dragon Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Retire bond payable (long-term). $ 11,000 Decrease in accounts receivable $ 7,000 Operating Activities: Paid dividends in cash $ 34,000 $ 9,000 $ 8,000 Increase in salaries payable. Depreciation expense. Increase in prepaid insurance. $ 16,000 Decrease in inventory Decrease in accounts payable Sold land investment) Adjustments to reconcile net income to cash basis $ 6.000 $ 200 $ 26,000 Decrease in other short-term liabilities $ 1,000 Increase in interest payable $ 700 Increase in taxes payable. $ 4,000 Cash balance, beginning of year $ 85,000 Purchase of new computer system with cash $ 14,000 Net income $ 89,000 Print Done Net cash provided by used for) operating activities
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