Print Page - Alden Corporation's most recent comparative Balance Sheet is as follows:Comparative Balance ...

Alden Corporation's most recent comparative Balance Sheet is as follows:

	Ending Balance	Beginning Balance
Comparative Balance Sheet
Assets:
Cash and cash equivalents	$ 7,000	$ 12,000
Accounts receivable	11,000	2,000
Inventory	39,000	24,000
Long-term investments	23,000	9,000
Property, plant, and equipment	83,000	100,000
Less accumulated depreciation	66,000	62,000
Total assets	$ 97,000	$ 85,000
Liabilities and Stockholders' Equity:
Accounts payable	$ 9,000	$ 28,000
Income taxes payable	1,000	2,000
Bonds Payable	16,000	10,000
Common Stock	42,000	30,000
Retained Earnings	29,000	15,000
Total liabilities and stockholders' equity	$ 97,000	$ 85,000

Alden's net income was $34,000. No equipment was purchased and no long-term investments were sold. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment that was sold was $12,000. Cash dividends of $20,000 were declared and paid during the year.

Required:

Prepare Alden's statement of cash flows using the indirect method.

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Other Fields Homework Help Accounting Topic started by: doggerfresh on Jul 24, 2023