Question: The following information is related to Alpha Company's fiscal year 2017. Income Statement: Net Income Depreciation Expense Gain on Sale of Plant Assets Interest
The following information is related to Alpha Company's fiscal year 2017. Income Statement: Net Income Depreciation Expense Gain on Sale of Plant Assets Interest Expense Balance Sheet - 12/31/17: Increase (Decrease) Accounts Payable Plant Assets Purchased Plant Assets Disposals $300,000 50,000 5,000 500 Additional Information: ($4,000) 250,000 (100,000) Cash Balance - 12/31/2016: $50,000 Common Stock exchanged for outstanding Long Term Notes Payable of $125,000 Dividends paid were $30,000 Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
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