Question: 3.) Cash fnows -indirect method The data below are taken from the financial statements of the Rutherford Corporation: Income Statement: 2009 Net Income Depreciation Expense170,000
3.) Cash fnows -indirect method The data below are taken from the financial statements of the Rutherford Corporation: Income Statement: 2009 Net Income Depreciation Expense170,000 Amortization Expense Gain on Sale of Equipment 640,000 30,000 10,000 Balance Sheet: Cash Accounts Receivable Inventory Prepaid Expenses Accounts Payable 12/31/2009 12/30/2008 1,850,000 1,200,000 710,000 840,000 30,000 660,000 630,000 680,000 800,000 35,000 Other information: Sold equipment for $25,000. Purchased new equipment for $120,000. Paid cash dividends for 2009 of $50,000. Prepare Statement of Cash Flows in good form for year ended 2009
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