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alidinak alidinak
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A year ago

Vandy Corporation's balance sheet and income statement appear below:

Comparative Balance Sheet
Ending BalanceBeginning Balance
Assets:
Cash and cash equivalents$ 31$ 29
Accounts receivable6173
Inventory5961
Property, plant, and equipment684550
Less accumulated depreciation349319
Total assets$ 486$ 394
Liabilities and stockholders' equity:
Accounts payable$ 53$ 54
Accrued liabilities2021
Income taxes payable5248
Bonds payable203190
Common stock6160
Retained earnings9721
Total liabilities and stockholders' equity$ 486$ 394

Income Statement
Sales$ 807
Cost of goods sold492
Gross margin315
Selling and administrative expense182
Net operating income133
Gain on sale of equipment16
Income before taxes149
Income taxes45
Net income$ 104

The company sold equipment for $18 that was originally purchased for $14 and that had accumulated depreciation of $12. It paid a cash dividend of $28 during the year and did not retire any bonds payable or repurchase any of its own common stock.

Required:

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

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
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david200095367david200095367
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alidinak Author
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A year ago
Brilliant ツ
Natalie Price
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Yesterday
Good timing, thanks!
annielin111
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2 hours ago
Thanks
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