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Income Statement: Net Income $300,000 Depreciation Expense 50,000 Gain on sale of Plant Assets 5,000 Interest Expense 500 Balance Sheet - 12/31/17: Accounts Payable ($4,000)
Income Statement:
Net Income $300,000
Depreciation Expense 50,000
Gain on sale of Plant Assets 5,000
Interest Expense 500
Balance Sheet - 12/31/17:
Accounts Payable ($4,000)
Plant Assets - Purchased 250,000
Plant assets - Disposals (100,000)
Additional Information:
Cash Balance - 12/31/16: $50,000
Common Stock exchange for outstanding Long Term Notes Payable of $125,000
Dividends paid were $30,000
Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
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