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preparing a statement of cash flows Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the
preparing a statement of cash flows
Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, 2016. All amounts are in millions of U.S. dollars: Additional information: 1. During fiscal year 2016, Hoskins Corporation acquired new equipment for $10,800 in cash. In addition, the comparty disposed of used equifinent that had original cost of \$11,700 and accumulated depreciation of $6,300, receiving $5,400 in cash from the buyer. 2. During fiscal year 2016, Hoskins Corporation arranged short-term bank financing and borrowed 513,500, wsing a portion of the cash to repay all of its outstanding long term debt. 3. During fiscal year 2016 , Hoskins Corporation engaged in no transactions imvolving its common srock though it did dectare and pay in cash a common utock dividend of 52.250. Prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal year 2016, using the indirect method for the cash from operations section. Note: Use a negative sign with your answer to indicate a reduction in cash/cash outfow. Prepare a statement of cash flows (all three sections) for Hoskins Corporation's Note: Use a negative sign with your answer to indicate a reduction in cash/cas Step by Step Solution
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