Prepare a statement of cash flows using the indirect method. Prepare a statement

Question

Prepare a statement of cash flows using the indirect method.

Prepare a statement of cash flows using the indirect method. Problem 13-7A (Part Level Submission) Presented below are the financial statements of Nosker Company. Additional data: 1. Dividends declared and paid were $25,030. 2. During the year equipment was sold for $7,960 cash. This equipment cost $17,650 originally and had a book value of $7,960 at the time of sale. 3. All depreciation expense, $15,230, is in the operating expenses. 4. All sales and purchases are on account.

Explanation / Answer

Statement of Cash Flows using Indirect Method cash Flow from Operations Net Income 27770 Add: Income Tax 8000 Add: Interest Expense 3520 Accounts Receivable -13940 Increase in Inventory -6060 Increase in Accounts Payable 11980 Cash Flow from Operations 31270

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