Question: 5. 35 Points Prepare a Statement of Cash Flows using the Indirect Method with the data given below a) During 2019, Dover Corporation's Net Income
5. 35 Points Prepare a Statement of Cash Flows using the Indirect Method with the data given below a) During 2019, Dover Corporation's Net Income was $50,000. It had credit sales of $210,000. In the same year Accounts Receivable decreased by $25,000. b) Dover Corporation had Net Purchases of $100,000. Accounts Payable decreased by $5,000 during the year. There was no change In the amount of Inventory c) The company acquired Land for 35,000 cash d) Operating Expenses for the year were $60,000 including Equipment depreciation of $10,000. Prepaid Expenses decreased by $3,000 during the year. Accrued Expenses increased by $2,000. e) Cash Dividends paid were 25,000. f) Equipment was sold for $10,000 cash g) Common Stock was issued at Par Value for 30,000 cash
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