Two-way cellular accountants gathered the following data for the year ended June 30, 2018:

Cash receipt from land sale	32,000 $		Net income	56,000 $
depreciation expense	4,000		Cash purchase of equipment	35,000
Cash dividend payment	5,600		Reduction in short-term liabilities	5,000
Cash receipt from the issuance of common stock	16,000		Increase in current assets other than cash	28,000

Prepare the two-way cellular cash flow statement using the indirect method for the year ended June 30, 2018. Suppose the starting and ending cash is $49,000 and $83,400, respectively.

Answer rating: 100% (QA)

Therefore the ending cash balance is 83400 which is consistent with the gi... View the full answer