Refer to the information for Solpoder Corporation on the previous page. Solpoder Corporation has the following comparative

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Refer to the information for Solpoder Corporation on the previous page.
Solpoder Corporation has the following comparative financial statements:
Refer to the information for Solpoder Corporation on the previous

Solpoder Corporation
Income Statement
For the Year Ended December 31, 2016
Sales.............................................................$ 297,000
Less: Cost of goods sold......................................(175,500)
Gross margin...................................................$ 121,500
Less: Operating expenses.......................................(58,500)
Net income.......................................................$ 63,000
Dividends of $17,100 were paid. No equipment was purchased or retired during the current year.
Required:
Prepare a statement of cash flows using the indirect method.

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Cornerstones of Managerial Accounting

ISBN: 978-1305103962

6th edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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