Question 12

The following information is related to Alpha Company's fiscal year 2017.

Income Statement:

Net Income$3,000,000

Depreciation Expense500,000

Gain onSaleof Plant Assets50,000

Interest Expense5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable($40,000)

Plant Assets - Purchased250,000

Plant Assets - Disposals(100,000)

Additional Information:

Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $30,000

Use this information to prepare a partial Statement of Cash Flows for Alpha Company. Prepare only the section related to Cash Flows from Operating Activities.

PLEASE SHOW CALCULATIONS