Problem 5
First Name Begins with	A-D		E- H
			2020	2019
Cash			1,350,000	950,000
Accounts receivable			1,260,000	1,400,000
Allowance for doubtful accounts			(200,000)	(180,000)
Inventory			750,000	610,000
Supplies			155,000	90,000
Property, plant, and equipment			8,520,000	8,000,000
Accumulated depreciation			(600,000)	(450,000)
Total			11,235,000	10,420,000
Short-term notes payable			400,000	400,000
Accounts payable and accrued liabilities			300,000	460,000
Income taxes payable			140,000	85,000
Notes Payable			400,000	200,000
Deferred income tax liability			45,000	45,000
Common stock			1,900,000	1,900,000
Additional paid-in capital			3,680,000	3,680,000
Retained earnings			4,370,000	3,650,000
			11,235,000	10,420,000
	Income Statement		Income Statement
Sales			4,000,000
Cost of goods sold			2,200,000
Gross profit			1,800,000
Selling and administrative expenses			900,000
Pre-tax income			900,000
Income tax expense			180,000
Net income			720,000
Other information:
Depreciation expense is	-		150,000
Bad debt expense is	-		20,000
Instructions:
Prepare a cash flow statement on an indirect basis