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The following is Saleen Corporation's comparative balance sheets for 2 0 2 3 and 2 0 2 2 : Additional information: On December 3 1
The following is Saleen Corporation's comparative balance sheets for and : Additional information: On December Saleen acquired percent of Jerkins Corporation's common stock for $ On that date, the carrying value of Jerkins' net assets and liabilities which approximated fair value was $ Jersins reported income of $ for the year ended December No dividend was paid on Jerkins' common stock during the year. During Saleen loaned $ to Bravery Company, an unrelated entity. Bravery made the first semiannual principal payment of $ plus interest at percent, on October On January Saleen sold equipment costing $ with a carrying value of $ for $ cash. On January Saleen entered into a capital lease for an office building. The present value of the annual rental payments is $ which equals the fair value of the building. Saleen made the first lease payment of $ when due on January Saleen's net income for was $ Saleen declared and paid cash dividends for and as follows: Required: Prepare a statement of cash flows for Saleen Company for using the indirect method. Include relevant supplemental schedules.
The following is Saleen Corporation's comparative balance sheets for and :
Additional information:
On December Saleen acquired percent of Jerkins Corporation's common
stock for $ On that date, the carrying value of Jerkins' net assets and liabilities
which approximated fair value was $ Jersins reported income of $ for
the year ended December No dividend was paid on Jerkins' common stock
during the year.
During Saleen loaned $ to Bravery Company, an unrelated entity. Bravery
made the first semiannual principal payment of $ plus interest at percent, on
October
On January Saleen sold equipment costing $ with a carrying value of
$ for $ cash.
On January Saleen entered into a capital lease for an office building. The
present value of the annual rental payments is $ which equals the fair value of
the building. Saleen made the first lease payment of $ when due on January
Saleen's net income for was $
Saleen declared and paid cash dividends for and as follows:
Required:
Prepare a statement of cash flows for Saleen Company for using the indirect method. Include relevant
supplemental schedules.
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