Question: i need help with this Cash Flow Statement Assignment (Winter 2021) The following are accounting items taken from the records of the Biden Company for
Cash Flow Statement Assignment (Winter 2021) The following are accounting items taken from the records of the Biden Company for 2021: Cash payment to stockholders as dividends $28,000 Decrease in accounts payable $36,000 Decrease in accounts receivable $46,500 Increase in inventories $14.400 Increase in salaries payable $30,000 Net income for 2021 $102,000 Cash payment for purchasing land and building $96,000 Cash payment for reducing long-term notes payable $34,800 (principal payment: $33,000; interest expense and payment: $1,800) Cash received from issuance of ten-year bonds payable at par value $120,000 Depreciation expense $18,000 Amortization expense 5.200 Cash received from sale of patent rights $48,000 Gain on the sale of patent rights 9,000 Purchase equipment by issuing long-term notes $52,000 Cash (at the beginning of 2021) $420,000 Required: Prepare the Statement of Cash Flows for Biden Company for 2021 using the indirect method. You are required to use Excel (including Excel functions) to complete the assignment
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