Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year, Iron Statement Data Selected Year-End Balance Sheet Bata Revenues $ 95,000 Accounts receivable decrease Expenses: Purchased a machine for cash Salaries expense 22,000 Salaries payable increase Utilities expense 28,000 Interest payable decrease Depreciation expense 28,000 Interest expense 8.700 Net loss $ (42,500) $ 24,000 23,000 25,000 12,000 Prepare the operating activities section of the statement of cash flows using the indirect method (Amounts to be deducted should be indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows using the Indirect method (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows Canin Cash flows from operating activities--Indirect method Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Changes in current operating assets and liabilities Accounts receivable decrease Salarios payable increase interest payable decrease 5 Net cash provided by operating activities Exercise 16-9 (Algo) Cash flows from investing activities LO P3 o. Equipment with a book value of 579,000 and an original cost of $166000 was sold at a loss of $34,000 b. Paid $112.000 cash for a new truck c. Sold land costing $315,000 for $410,000 cash yielding a gain of $95.000 d. Stock investments were sold for $91,400 cash, yielding a gain of $14,000 Use the above Information to determine cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities