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Here are comparative balance sheets for Velo Company?: Additoinal Information: ?1. Net income for 2017 was $102,300. 2. Cash dividends of $34,500 were declared and
Here are comparative balance sheets for Velo Company?:
Additoinal Information:
?1. Net income for 2017 was $102,300.
2. Cash dividends of $34,500 were declared and paid.
3. Bonds payable amounting to $53,700 were redeemed for cash $53,700.
4. Common stock was issued for $39,300 cash.
5. No equipment was sold during 2017, but land was sold at cost.
Prepare a statement of cash flows for 2017 using the indirect method.
(Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).)
VELO COMPANY Comparative Balance Sheets December 31 2017 2016 Assets 73,500 Cash 32,600 86,200 Accounts receivable 70,600 186,500 170,100 Inventory 74,000 100,400 Land 260,700 200,700 Equipment (65,600) (33,500 Accumulated depreciation equipment Total $598,900 $557,300 Liabilities and Stockholders Equity 35,100 46,900 Accounts payable 150,200 203,900 Bonds payable 215,100 175,800 Common stock ($1 par) 198,500 130,700 Retained earnings $598,900 $557,300 Total
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