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Problem 3 The following data is taken from the Financial Statements of Fitch Inc. for 2014. Dec. 2014 Jan. 2014 Income Statement: Net Income $447.000
Problem 3 The following data is taken from the Financial Statements of Fitch Inc. for 2014. Dec. 2014 Jan. 2014 Income Statement: Net Income $447.000 314.000 235,000 152.500 Depreciation Expense Amortization of Intangibles Gain on sale of plant assets Balance Sheet: Accounts Receivables Inventory Prepaid Expenses Accounts Payables Deferred income taxes payables $125.000 610.000 $315.000 475.000 91.000 230.000 47.000 212.000 169.000 193.000 Additional information: Issued bonds payable for $100.000 cash Used $50.000 cash from the bonds to purchase land. Paid $90.000 dividend to stockholders Sold investments in another company for $40.000 cash. Purchased $180.000 in treasury stock The balance of the cash account on January, 2014 was $239.000 Using the above information, prepare the statement of cash flows for the year ended December 31, 2014 showing the computation of the net cash flows from operating (by the indirect method), investing and financing activities
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