Question - Creating a statement of Cash flow for these transactions using the indirect method.
Net Income $300,000
Depreciation Expense 50,000
Gain on Sale of Plant Assets 5,000
Accounts Payable decrease by 4,000
Purchase of land 250,000
Sale of Equipment 105,000
Additional Information:
Beginning Cash Balance: $50,000 Ending Cash Balance: $216,000
Equipment was sold for 105,000 in cash.
Land was paid for in cash.
Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
Dividends paid were $30,000.