Question

12. The following information is related to Alpha Company’s fiscal year

2017.

            Income Statement:

                        Net Income                             $3,000,000

                        Depreciation Expense                500,000

                        Loss on Sale of Plant Assets        50,000

                        Interest Expense                             5,000

            Balance Sheet – 12/31/17: Increase (Decrease)

                        Accounts Payable                  ($40,000)

                        Plant Assets – Purchased        250,000

                        Plant Assets – Disposals         (100,000)

            Additional Information:

 Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

                        Dividends paid were $30,000

Use this information to prepare a partial Statement of Cash Flows for Alpha Company. Prepare only the section related to Cash Flows from Operating Activities.

Partial Statement of Cash Flows:

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