Problem - 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.