Question: Presented below are the 2011 income statement and comparative ba

Presented below are the 2011 income statement and comparative balance sheets for Santana Industries.
Additional information for the 2011 fiscal year ($ in thousands):
1. Cash dividends of $1,000 were declared and paid.
2. Equipment costing $4,000 was purchased with cash.
3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of $1,000) was sold for $500.
4. Depreciation of $1,600 is included in operating expenses.

Required:
Prepare Santana Industries' 2011 statement of cash flows, using the indirect method to present cash flows from operating activities.




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  • CreatedJune 24, 2013
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