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Each of the following items must be considered in preparing a statement of cash flows (indirect method) for Wildhorse Inc. for the year ended December
Each of the following items must be considered in preparing a statement of cash flows (indirect method) for Wildhorse Inc. for the year ended December 31, 2017 (a) S (b) > (c) Patent amortization for the year was $17.000. During the year, treasury stock costing $25,000 was purchased Plant assets that had cost $21,000 6 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $4,300 Sale proceeds Loss on sale of plant assets The company sustained a net loss for the year of $53,000. Depreciation amounted to $35,000, and again of $18,000 was realized on the sale of land for $40,000 cash Net Loss S S Id) Depreciation Gain on Sale of Land $ Proceeds from the sale of land (d) Loss on sale of plant assets The company sustained a net loss for the year of $53,000. Depreciation amounted to $35.000, and again of $18.000 was realized on the sale of land for $40,000 cash. Net Loss $ V Depreciation $ $ le) Gain on Sale of Land Proceeds from the sale of Land During the year. 10,000 shares of common stock with a stated value of $10 a share were issued for $89 a share. The company exchanged common stock for a 70% interest in Tabasco Co. worth $844.000 $ 10 State where each item is to be shown in the statement of cash flows, if at all
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