Question: Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet for the company 2018 2017 Increasel(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock Retained earnings Treasury stock Total equity 100.000 61,000 226,000 148,000 (18,500) (12,400) $307,500 $196,600 $39,000 $78,000 ($6,100) $110,900 $89,900 Total liabilities and equity $528,500 $438,600 Additional information provided: Dividend paid for 2018 amounted to $12,500. Net income for 2018 was $98,000 During 2018, the company repaid $80,000 of long-term notes payable. During 2018, the company borrowed $68,000 on a new note payable There were no stock retirements during 2018. Requirement: Using the indirect method, prepare a schedule for the financing section (only) of the statement of cash flows for December 2018
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