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The following information was obtained from analysis of selected accounts of Orlando Company for the year ended December 31, 2008. Increase in long-term debt $
The following information was obtained from analysis of selected accounts of Orlando Company for the year ended December 31, 2008.
Increase in long-term debt | $ 57,000 |
Purchase of treasury stock | 52,000 |
Depreciation and amortization | 197,000 |
Gain on sale of equipment (included in net income) | 6,000 |
Proceeds from issuance of common stock | 184,000 |
Purchase of equipment | 434,000 |
Proceeds from sale of equipment | 20,000 |
Payment of dividends | 49,000 |
Net income | 375,000 |
Increase (decrease) in working capital accounts: | |
Cash | 45,000 |
Accounts receivable | 229,000 |
Inventories | 275,000 |
Trade notes payable | 167,000 |
Accounts payable | 124,000 |
Income taxes payable | (34,000) |
Cash balance, January 1, 2008 | 120,000 |
Instructions: From the information given, prepare a statement of cash flows using the indirect method.
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