3 (30 pts). The income statement and additional data of Dreampark International, Inc, follow: DREAMPARK...
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3 (30 pts). The income statement and additional data of Dreampark International, Inc, follow: DREAMPARK INTERNATIONAL, INC Income Statement Year Ended June 30, 2016 Revenues: $215,000 Service Revenue Cost of goods sold Salary expense Depreciation expense Income tax expense $78,000 49,000 15,000 5,600 147,600 $ 67,400 Additional data: a. Acquisition of plant assets is $109,000. Of this amount, $70,000 is paid in cash and $39,000 by signing a note payable. b. Cash receipt from sale of land totals $28,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $20,000. d. Payment of note payable is $39,000. e. Payment of dividends is $15,000. f. From the balance sheet: June 30 2016 2015 Current Assets: $20400 $11,000 56,000 48,000 83,000 Cas Account receivable... Inventory.... Accounts payable. 90,000 Current Liabilities: $31,000 $26,000 Accrued liabilities. Requirement Prepare Freampark International, Inc.'s statement of cash flows for the year ended June 30, 2016, using the indirect method. Include a separate section for noncash investing and financing activities
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