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The following items were gathered from Rankin Corporation's general ledger:Net income$26,000Gain on ...

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The following items were gathered from Rankin Corporation's general ledger:Net income$26,000Gain on ...

The following items were gathered from Rankin Corporation's general ledger:

Net income	$26,000
Gain on sale of marketable securities	3,000
Beginning cash balance	18,000
Purchase of new factory equipment	75,000
Proceeds from sale of marketable securities	25,000
Depreciation	8,000
Payment of cash dividends	23,000
Decrease in accounts receivable	6,000
Proceeds from issuance of common stock	32,000
Increase in inventory	12,000
Increase in accounts payable	4,000
Decrease in accrued liabilities	2,000

Required:

Using the indirect method, prepare Rankin's statement of cash flows in good form.

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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