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doggerfresh doggerfresh
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11 months ago

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

Comparative Balance Sheet
Ending BalanceBeginning Balance
Assets:
Cash and cash equivalents$ 7,000$ 12,000
Accounts receivable11,0002,000
Inventory39,00024,000
Long-term investments23,0009,000
Property, plant, and equipment83,000100,000
Less accumulated depreciation66,00062,000
Total assets$ 97,000$ 85,000
Liabilities and Stockholders' Equity:
Accounts payable$ 9,000$ 28,000
Income taxes payable1,0002,000
Bonds Payable16,00010,000
Common Stock42,00030,000
Retained Earnings29,00015,000
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.

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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