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    Smith Company Indirect Method of Cash Flows

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    You are the senior accountant for the Smith Company. Using the information provided, prepare a statement of cash flows using the indirect method.

    (see attached)

    Additional information is as follows:
    Equipment was sold for $26 during the year, which had cost $30 accumulated depreciation of $10.
    Cash dividends of $33 were paid during the year.

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    Solution Summary

    The solution presented in Excel for you. The indirect method for cash flows are determined.