Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows. How would a cash flow statement be prepared using the indirect method? Properly title the statement.
Question
Question:Selected financial information for the Adelphi Company for the fiscal years ended December 31,
2018 and 2017 follows. How would a cash flow statement be prepared using the indirect method? Properly title the statement.
2018 2017
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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