1) Selected financial information for the Adelphi Company

Gartland (2016) suggests that governmental and not-for-profit entities
May 5, 2020
Selected financial information for the Adelphi Company
May 5, 2020

1) Selected financial information for the Adelphi Company for the

fiscal years ended December 31, 2018 and 2017 follows. Prepare cash flow statement using the indirect method. Properly title the statement.

20182017
Net income $142,500 $162,000
Depreciation Expense 42,000 35,000
Purchase of Plant Assets 135,000 125,000
Disposal of Plant Assets 40,000 50,000
Gain (Loss) on Disposal of Plant Assets (10,000) 5,000
Accounts Receivable Balance 64,500 58,000
Accounts Payable Balance 42,000 39,000
Interest Expense 8,000 6,000
Income Taxes Paid 35,000 28,000
Dividends Paid 30,000 25,000
Common Stock Issued for Cash 20,000 0

 
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