Question: The income statement of Minerals Plus Inc follows

The income statement of Minerals Plus, Inc. follows:

Additional data follow:
a. Acquisition of plant assets is $ 119,000. Of this amount, $ 100,000 is paid in cash and $ 19,000 by signing a note payable.
b. Cash receipt from sale of land totals $ 28,000. There was no gain or loss.
c. Cash receipts from issuance of common stock total $ 29,000.
d. Payment of note payable is $ 18,000.
e. Payment of dividends is $ 8,000.
f. From the balance sheet:

Prepare Minerals Plus’s statement of cash flows for the year ended September 30, 2015, using the indirect method. Include a separate section for non- cash investing and financingactivities.
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  • CreatedJanuary 16, 2015
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