New folder yruvate is converte Calculator On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period. Stock was issued for cash-3,200 shares at par. Net income for the current year was $76,000. Cash dividends declared and paid were $13,000 Current Year Prior Year Assets Cash Accounts Receivable (net) Inventories Equipment Accumulated Depreciation Total assets $ 170,000 78,000 106,500 395,000 (195,000) $ 554,500 $74,000 85,000 90,000 370,000 (158,000) $461,000 Liabilities and stockholders' equity Accounts Payable (merchandise creditors) Taxes Payable Common Stock, $10 par Retained Earnings Total Liabilities and Stockholders' Equity $51,000 2,500 262,000 239,000 $ 554,500 $50,000 5,000 230,000 176,000 $461,000 Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Breach Co. Statement of Cash Flows Previous Email Instructor Submit Test for Grading All work saved. Ise the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Breach Co. Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: w 0 0 WOO Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow provided by financing activities Cash at the beginning of the year Cash at the end of the year Previous Submit Test for a X New folder yruvate is converte... Calculator A building with a book value of $49,349 is sold for $61,724 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of Oa. $49,349 from investing activities and an addition to net income of $12,375 b. 561,724 from investing activities Oc. 549,349 from investing activities Od. 561,724 from investing activities and a deduction from net income of $12,375 Previous Next > Ema Intructor Sume Test for Grading All work saved