question E4-42

hes wor d Method by Hoskins Corporation for US dolars. L03, P atc The DIK A ember 31, 2017 Decemb 39818 Pradece ... 6.100 (1.750) L a nd Shareholders' Equity Longdom det..... 588/8978/ Contributed opel Retained emings Fiscal ye 2018 Cost of goods sold ........ Gross profit Seling general and administrative Depreciation expense...... Operating income...... $6.500 3,400 3.100 1.450 350 Income before income tax expen 1.300 350 Net income ...... Additional information: 1. During fiscal year 2016, Hoskins Corporation acquired new equipment for $1.200 in cash In addition, the company disposed of used equipment that had original cost of $1.300 and accu mulated depreciation of 5700, receiving 5600 in cash from the buyer e Cambridge Business Publishers Chapter 4 Reporting and Analyzing Cash Flows 201 During fiscal year 2018, Hoskins Corporation arranged short-term bank financing and bor- rowed $1,500, using a portion of the cash to repay all of its outstanding long-term debt. During fiscal year 2018, Hoskins Corporation engaged in no transactions involving its com- mon stock, though it did declare and pay in cash a common stock dividend of $250. REQUIRED Prepare a statement of cash flows all three sections) for Hoskins Corporation's fiscal year 2018. using the indirect method for the cash from operations section. Amalie