V. Cash Flow Problem

Company C issued 100,000 shares of $1 par common stock at par.

They purchased $30,000 of Equipment for cash, useful life is 6 years.

The company earned revenue of $150,000; $110,000 was received in cash, the rest on account.

The company incurred $100,000 of expenses; $80,000 of the expenses were paid in cash; the rest on account.

The company recorded depreciation of $5,000

The company sold $10,000 of Equipment for $13,000 cash.

The company paid a $10,000 dividend in cash.

For the transactions listed above, prepare a cash flow statement using the indirect method.