Question: I am asked to prepare a cash flow statement using the indirect method, please provide the answer asap! thanks! Shown below are comparative statements of

I am asked to prepare a cash flow statement using the indirect method, please provide the answer asap! thanks! I am asked to prepare a cash flow statement using the indirect

Shown below are comparative statements of financial position for Marigold Corporation MARIGOLD CORPORATION Statement of Financial Position December 31 Assets 2018 Cash $68,780 Accounts receivable 84,800 Inventory 174,920 Land 79.190 Equipment 267.000 Accumulated depreciation - equipment (67,540) $607,150 Liabilities and Shareholders' Equity Accounts payable $38,170 Bonds payable 167.000 Common shares 214,790 Retained earnings 187.190 $607,150 2017 $22.540 76,100 196,630 102290 206,300 (33.240) $570,620 $45,620 209,000 169,810 146,190 $570,620 Additional information: 1. Net Income for 2018 was $97,590. There were no gains or losses reported on the income statement. 2. Cash dividends of $56,590 were declared and paid. 3. Bonds payable amounting to $42.000 were redeemed for cash $42,000. The bonds were originally issued at face value (no premium or discount) 4. Common shares were issued for $44,980 cash. 5. No land was purchased during 2018, 6. No equipment was disposed of during 2018

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f