Question: Need help with question. 8 dollars for problem thanks. ACCT 1020 On the basis of the following data for Branch Co. for the current and

 Need help with question. 8 dollars for problem thanks. ACCT 1020

Need help with question. 8 dollars for problem thanks.

On the basis of the following data for Branch Co. for the

ACCT 1020 On the basis of the following data for Branch Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared and paid of $18,000. Cash Accounts Receivable (net) Inventories Land Equipment Accumulated Depreciation Accounts Payable (merchandise creditors) Common Stock, $10 par Paid-In Capital in Excess of ParCommon Stock Retained Earnings Current Year $ 65,000 78,000 106,500 495,000 (215,000) $529,500 Prior Year $ 54,000 85,000 90,000 20,000 370,000 (158,000) $461,000 $ 53,500 200,000 62,000 214,000 $529,500 $ 55,000 170,000 60,000 176,000 $461,000

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