Question: Shoemaker Company purchased a machine on January 1 2009 for
Shoemaker Company purchased a machine on January 1, 2009, for $ 85,000 in cash. On June 30, 2010, Shoemaker sold the machine at a loss of $ 5,000. Accumulated depreciation as of June 30, 2010, was $ 21,250. What is the cash flow shown in the investing section of the statement of cash flows in 2010? What adjustment is needed to the net income using the indirect method in the operating section of the statement of cash flows in 2010?
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