Preparing a Statement of Cash Flows(Indirect Format)
Reuben Corporation has completed its comparative balancesheet and income statement, shown at the top of the following page,at year-end 2007.
Additional information:
1. A payment of $8,250 was made on the loan principal duringthe year.
2. Just before year-end, a dividend was distributed tostockholders.
3. A parcel of land was acquired early in theyear.
4. New shares of common stock were sold during theyear.
Required: Prepare a statement of cash flows in good formusing the indirect format.