a. Net income, $161,870. b. Depreciation reported on the income statement, $31,040. c. Equipment was...
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a. Net income, $161,870. b. Depreciation reported on the income statement, $31,040. c. Equipment was purchased at a cost of $60,960, and fully depreciated equipment costing $16,550 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 5,000 shares of common stock were issued at $16 for cash. f. Cash dividends declared and paid, $98,640. Prepare a statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments
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