Soved

E$12-23($Algo$)($Supplement $12$B$)$ Preparing a Statement of Cash Flows, Indirect Method: T$-$Account Approach $[$LO $12-$S$2]$

Golf Goods Incorporated is a regional and online golf equipment retailer. The company reported the following for the current year:

Purchased a long$-$term investment for cash, $$19,000$

Paid cash dividend, $$10,400.$

Sold equipment for $$6,800$ cash $($cost$,$ $$22,600$; accumulated depreciation, $$15,800).$

Issued shares of no$-$par stock. $580$ shares at $$10$ cash per share.

Net income was $$21,000.$

Depreciation expense was $$3,800.$

Its comparative balance sheet is presented below.

$\backslash$table$[[,\backslash$table$[[$Ending$],[$Balances$]],\backslash$table$[[$Beginning$],[$Balances$]]],[$Cash$,$$$25,800,$$$26,500$