Question
Statement of Cash Flows The following are several items involving the cash flow activities of the ROCKY HORROR PICTURE CO. for 2016: Net income, $41400
Statement of Cash Flows The following are several items involving the cash flow activities of the ROCKY HORROR PICTURE CO. for 2016: Net income, $41400 Payment of dividends, $16400 Ten-year, $29400 bonds payable were issued at face value Depreciation expense, $24400 Building was acquired at a cost of $33500 Accounts receivable decreased by $2100 Accounts payable decreased by $3500 Equipment was acquired at a cost of $6000 Inventories increased by $6600 Beginning cash balance, $14400 Required: Prepare Rocky Horror Picture's statement of cash flows for 2016 using the indirect method. Use a minus sign for any negative amounts.
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