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Please tell me how to solve for the numbers that are crossed out. Please solve using direct method. YAEGER COMPANY Income Statement For the Year
Please tell me how to solve for the numbers that are crossed out. Please solve using direct method.
YAEGER COMPANY Income Statement For the Year Ended December 31, 2008 $297,500 Sales Gain on sale of plant assets 302,500 Less: $99,460 Cost of goods sold ' Operating expenses, cluding depreciation expense .Deprecation expense 27,270 2940 Income taxes Interest expense 179,840 $122,660 Net income Additional information: 1. New plant assets costing $141,000 were purchased for cash during the year 2 Investments were sold at cost. 3. Plant assets costing $36,000 were sold for $15,000, restHagitege46fee- 4. A cash dividend of 000 was declared and paid during the year Cash from operations Prepare a statement of cash flows using the indirect method. counts payable pertain to merchandise creditors. Prepare a statement of cash flows for Yaeger Company using the direct method. $110,800 Prepare a satenetofcush "P14-108 Data for Yaeger Company (SO 6) Cash from operations y are presented in P14-9B. Further analysis reveals that $110,800 P14-9B Condensed financial data of Yaeger Company are shown below YAEGER COMPANY Comparative Balance Sheets December 31 2008 2007 Assets $97,700 70,800 121,900 89,500 310,000 33,400 37,000 102,650 107,000 205,000 Accounts receivable Inventories Investments Plant assets Accumulated depreciation (49500 (40,000) $445,050 $640,400 Liabilities and Stockholders' E 48,280 18,830 Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 62,700 15,100 140,000 200,000 107,940 172,600 $640,400 $445,050Step by Step Solution
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