The following information is available for Ivanhoe Company for the year ended December 31, 2022....
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Accounting
The following information is available for Ivanhoe Company for the year ended December 31, 2022.
Beginning cash balance
$ 78,750
Accounts payable decrease
6,475
Depreciation expense
283,500
Accounts receivable increase
14,350
Inventory increase
19,250
Net income
497,175
Cash received for sale of land at book value
61,250
Cash dividends paid
21,000
Income taxes payable increase
8,225
Cash used to purchase building
505,750
Cash used to purchase treasury stock
45,500
Cash received from issuing bonds
350,000
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Ivanhoe Company Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to
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