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Preparing a Statement of Cash Flows using the Indirect Method

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Lowry Landscapes had net income of $50,000 for 2010. Land was sold for $40,000, of which $3,000 was a gain. The beginning cash balance was $53,000, and the ending cash balance was $151,000. Depreciation expenses were $11,000. Prepare a statement of cash flows for the year ended December 31, 2010, for Lowry Landscapes using the indirect method.

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This solution provides a sample statement of cash flows using the indirect method.

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** Please see the attached file for the complete solution response **

Solution is provided in a separate excel file attached along with necessary explanatory note.

Lowry Landscapes
Statement of Cash Flows- Indirect Method
For the Year Ended December 30, ...

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