Question: Cash Flow Statement - Operations Section Next Company uses the Indirect Method to prepare the Statement of Cash Flows. A review of the Financial Statements

Cash Flow Statement - Operations Section

Next Company uses the Indirect Method to prepare the Statement of Cash Flows.

A review of the Financial Statements indicates the following items:

Gain on Sale of Plant Assets $6,000

Current Assets (other than cash) increased by $36,000

Net Income for year ended 12/31/20 $73,500

Sold Equipment at Book Value $14,000

Account Payable decreased by $1,500

Issued Long Term Notes Payable $12,000

Purchased new Machinery (Valued at $9,000) in exchange for 2000 shares of $1 PV Common Stock

Depreciation Expense $18,000

REQUIRED: Using Proper Form,Prepare the Cash Flow Operations Section at 12/31/20

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