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The accounting records of Mid West Corporation reveal the following: Click the icon to view the data table.) Read the requirements. Requirement 1. Prepare the
The accounting records of Mid West Corporation reveal the following: Click the icon to view the data table.) Read the requirements. Requirement 1. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Net income. $ 12,000 23,000 Collection of dividend revenue .. Payment of interest.. Sales revenue. Gain on sale of land Acquisition of land with cash 39,000 Depreciation expense. 7,200 Decrease in current liabilities 14,000 Decrease in current assets 215,000 other than cash 19,000 Payment of dividends 38,000 Payment of income tax. 29,000 7,500 13,000
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