Question

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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