Cash Flow Statements
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Prepare a cash flows statement using the indirect method, also disclosing any noncash investing and financing activities. Use the following transactions for the year end.
a. The loss on the cash sale of equipment is $5125, see (b)
b. sold equipment costing $46875, with accum depr of $28125 for $13625 in cash.
c. purchased equipment costing $96375, paid $25000 cash and signed a long-term note payable for the balance.
d. borrowed $3750 cash by a short-term payable.
e. paid $31375 cash to reduce the long-term notes payable.
f. issued 2,500 share of common stock for $18 per share.
g. declared and paid cash dividends for $62125.
Net Income is $73,750
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