Question: Use the All Wired data from Problem In Problem the

Use the All Wired data from Problem.
In Problem, the 2015 income statement and comparative balance sheet of All Wired, Inc. follow:


Additionally, All Wired purchased land of $ 24,500 by financing it 100% with long-term notes payable during 2015. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $ 0. The cost and the accumulated depreciation of the disposed asset was $ 12,060.

Requirements
1. Prepare the 2015 statement of cash flows by the direct method.
2. How will what you learned in this problem help you evaluate aninvestment?


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  • CreatedJanuary 16, 2015
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