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Perry Corp had the following financial data related to the years ended December 31: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation, equipment
Perry Corp had the following financial data related to the years ended December 31: Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation, equipment December 31, 2015 2014 $ 142,740 $ 56,980 21,500 20.500 135,000 121,200 102,000 112,800 320,000 201,000 102,022 28,356 $619,218 $484,124 Accounts payable Income taxes payable Bonds payable Common shares Retained earnings $14,200 22,600 54,000 148.000 380,418 $619,218 $10,200 21,300 64,000 124,000 264,624 $484,124 $479,892 Sales (all on credit) Cost of goods sold Depreciation expense Other operating expenses Interest expense Loss on sale of equipment Net income $161,644 95,822 56,431 10,185 3.822 327,904 $151,988 (1) There was no gain or loss on the long-term investments sold or the bonds retired. (2) Old equipment with an original cost of $34,900 was sold for $8,922. (3) New equipment was purchased for $153,900. (4) Dividends of $36,194 were paid during the year. (5) Additional shares were issued during the year. Prepare a statement of cash flows for the year ended December 31, 2015, using the indirect method
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