Selected financial information for the Adelphi Company for thefiscal years ended December 31, 2018 and 2017 follows. Prepare acash flow statement using the indirect method. Properly title thestatement.
| 2017 | 2018 |
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 |
