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
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
Statement of Cash Flows for Alpha Company with the indirect method.
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