Question
The following information is related to Alpha Company's fiscal year 2017. Income Statement: Net Income$300,000 Depreciation Expense50,000 Gain on Sale of Plant Assets10,000 Interest Expense500
The following information is related to Alpha Company's fiscal year 2017.
Income Statement:
Net Income$300,000
Depreciation Expense50,000
Gain on Sale of Plant Assets10,000
Interest Expense500
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable ($4,000)
Plant Assets - Purchased250,000
Plant Assets - Disposals (100,000)
Additional Information:
Cash Balance - 12/31/2016:$50,000
Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
Dividends paid were $25,000
Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
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