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please solve this problem Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, as
please solve this problem
Statement of Cash Flows-Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017, as follows: 2017 0,510 Assets Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation equipment Total assets 113.400 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital: Excess of issue price over par common stock Retained earings . Total liabilities and stockholders' equity Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2048 are as follows: a. Net income, $121,400. b. Depreciation reported on the income statement, $27,650. C. Equipment was purchased at a cost of $53,970, and fully depreciated equipment costing $14,840 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $73,980. Required Prepare a statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments T > c Week 1 Assignment Accumulated depreciation equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital: Excess of issue price over par common stock Retained earnings 118,00 Total liabilities and stockholders' equity Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2018 are as follows: a. Net income, $121,400. b. Depreciation reported on the income statement, $27,650. c. Equipment was purchased at a cost of $53,970, and fully depreciated equipment costing $14,840 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $73,980. Required: Prepare a statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. For the Yowe Drawer Cathrow road for Assignment Score Step by Step Solution
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