Question

Comparative balance sheets for International Company are presented below.


Additional information:
1. Net income for 2014 was $135,000.
2. Cash dividends of $70,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $50,000 cash.
5. Depreciation expense was $24,000.
6. Sales for the year were $978,000.

Instructions
Prepare a worksheet for a statement of cash flows for 2014 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference eachentry.


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  • CreatedJanuary 30, 2014
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