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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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