1.The following information is related to Alpha Company’s fiscal year 2017.
1.The following information is related to Alpha Company’s fiscal year 2017.
Income Statement:
Net Income $300,000
Depreciation Expense 50,000
Gain on Sale of Plant Assets 10,000
Interest Expense 500
Balance Sheet – 12/31/17: Increase (Decrease)
Accounts Payable ($4,000)
Plant Assets – Purchased 250,000
Plant Assets – Disposals (100,000)
Additional Information:
Cash Balance – 12/31/2016: $50,000
Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
Dividends paid were $25,000
Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
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