Use the following information to prepare the worksheet for the Statement of Cash Flows for the Best Company for 2016 (use the indirect method). Best Company Income Statement for the year ended December 31,2016 Revenues: Sales $600,000 Gain on Sale of Plant Asset 2500 $602500 Expenses: Cost of Goods Sold $500,000 Operating Expenses $60000 Depreciation Expense $7,500 Interest Expenses $5000 Income Tax Expense $9000 (581,500) Net Income $21,000 Additional Information: 1. Plant assets were sold at a sales price of $62,500 2. Additional Equipment was purchased at a cost of $60,000 3. Dividends of $8,500 were paid. 4. Bonds were redeemed at face value. 5. Additional shares of stock were issued for cash.

rare VIII 18 points Use the following information to prepare the worksheet for the statement of cash Flows the Best Company for 2016 (use the indirect method. Best Company Income Statement For the Year Ended December 31, 2016 Revenues: Sales Gain on $600,000 Sale of Plant Asset 2.500 S602,500 Cost of Goods Sold 500,000 operating Expenses 60,000 Depreciation Expense 7,500 Interest Expense 5,000 Income Tax Expense 9,000 (581,500) Net Income AdditionaLInformation: 1. Plant assets were sold at a sales price of s62,500. 2. Additional Equipment was purchased at a cost of S60,000. 3. Dividends of S8,500 were paid. 4. Bonds were redeemed at face value. 5. Additional shares of stock were issued for cash