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The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable
The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase $48,000 3,900 176,000 7,500 13,000 257,500 Net income Cash received for sale of land at book value 34,000 Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds 13,000 5,000 271,000 23,000 215,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) STAMOS CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2020 Cash Flows from Operating Activities 257,500 Net Income Adjustments to Reconcile net income to Depreciation Expense Increase in Accounts Receivable Increase in Inventory Increase in Income Taxes Payable , Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Land Purchase of Building Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Bonds Purchase of Treasury Stock Payment of Dividend Net Cash Used by Financing Activities Cash at End of Period Click if you would like to Show Work for this question: Open Show Work
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