Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018...
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Accounting
Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows. Prepare a cash flow statement using the indirect method. Properly title the statement.
2018
2017
Cash balance
$113,500
$37,500
Net income
142,500
162,000
Depreciation Expense
42,000
35,000
Purchase of Plant Assets
135,000
125,000
Disposal of Plant Assets
40,000
50,000
Gain (Loss) on Disposal of Plant Assets
(10,000)
5,000
Accounts Receivable Balance
64,500
58,000
Accounts Payable Balance
42,000
39,000
Interest Expense
8,000
6,000
Income Taxes Paid
35,000
28,000
Dividends Paid
30,000
25,000
Common Stock Issued for Cash
20,000
0
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