CASH FLOW STATEMENT WORKSHEET PROBLEM INDIRECT METHOD

a spreadsheet for a statement of cash flows is presented below along with the following additional information. For the column of "Change," a positive number means an increase and a negative number means a decrease.

$-$ Net income was $$529,000$

$-$ Dividends declared $$100,00,$ payable January $31$ of next year. On January $31,$ of the current year, $$90,000$ was paid for dividends declared for last year.

$-5-$year bonds with a face value of $$60,000$ were issued for $$50,000$ in the year. One year of discount amortization using the straight line method. $$2,000$ was recorded.

$-1,000$ shares of common stocks $($$$100$ par per share$)$ were issued for $$150,000$

$-$ Purchased $30\%$ interest in kent company for $$90,000$ and classified it as equity method investment in the year. Kent Company reported a net income of $$50,000$ and declared no dividend for the year.

$-$ The preferred stock was converted to an equal number of common shares. The book value was used.

$-$ Property, plant, and equipment costing $$200,000$ were sold for $$140,000.$ The asset had accumulated depreciation of $180,000$ at the date of sale.