The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning...

Transcribed Image Text:

The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning cash balance $41,000 Accounts payable decrease 3,300 Depreciation expense 173,000 Accounts receivable increase 8,300 Inventory increase 9,000 Net income 280,200 Cash received for sale of land at book value 32,000 Cash dividends paid 12,000 Income taxes payable increase 4,200 Cash used to purchase building 267,000 Cash used to purchase treasury stock 28,000 Cash received from issuing bonds 218,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning cash balance $41,000 Accounts payable decrease 3,300 Depreciation expense 173,000 Accounts receivable increase 8,300 Inventory increase 9,000 Net income 280,200 Cash received for sale of land at book value 32,000 Cash dividends paid 12,000 Income taxes payable increase 4,200 Cash used to purchase building 267,000 Cash used to purchase treasury stock 28,000 Cash received from issuing bonds 218,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Answer rating: 100% (QA)

Stamos Corporation Statement of Cashflows For the period ending 31122... View the full answer