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Given below is selected information of FCDl Corporation along with additional data. Prepare a cash flow statement for 2020 using the indirect method. 2019 2020
Given below is selected information of FCDl Corporation along with additional data.
Prepare a cash flow statement for 2020 using the indirect method.
2019 2020 Cash...... $42,000 $75,000 Accounts receivable (net)... 84,000 144,200 Inventory..... 168,000 201,600 Land....... 58,800 16,000 Equipment...... 504,000 789,600 Accumulated depreciation............ 84,000 115,600 50,400 86,000 67,200 29,400 Accounts payable... Notes payable - Short-term..... Notes payable - Long-term.. Common stock..... .168,000 302,400 .420,000 487,200 Additional data for 2020: 1. Net income was $240,200. 2. Land was sold for a loss of $2,000. 3. Dividends of $101,600 were paid. 4. Equipment was purchased for $84,000 cash. 5. A long-term note for $201,600 was used to pay for an equipment purchase. 6. Common stock was issued to pay a $67,200 long-term note payable
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