Question - The following information is available for Chenard Corporation for the year ended December 31, 2017.
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Beginning cash balance
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$35,000
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Accounts payable decrease
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3,200
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Depreciation expense
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76,000
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Accounts receivable increase
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8,200
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Inventory increase
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13,000
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Net income
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269,100
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Cash received for sale of land at book value
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35,000
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Sales revenue
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747,000
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Cash dividends paid
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12,000
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Income tax payable increase
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4,700
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Cash used to purchase building
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144,000
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Cash used to purchase treasury stock
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32,000
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Cash received from issuing bonds
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206,000
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Prepare a statement of cash flows using the indirect method.