The income statement and additional data of Tyler Travel Products, Inc., follow: Additional data: a. Acquisition of

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The income statement and additional data of Tyler Travel Products, Inc., follow:

The income statement and additional data of Tyler Travel Products,

Additional data:
a. Acquisition of plant assets was $150,000. Of this amount, $95,000 was paid in cash and $55,000 by signing a note payable.
b. Proceeds from sale of land totaled $14,000.
c. Proceeds from issuance of common stock totaled $50,000.
d. Payment of a long-term note payable was $18,000.
e. Payment of dividends was $12,000.
f. From the balance sheets:

The income statement and additional data of Tyler Travel Products,

Requirements
1. Prepare Tyler€™s statement of cash flows for the year ended December 31, 2014, using the indirect method.
2. Evaluate Tyler€™s cash flows for the year. In your evaluation, mention all three categories of cash flows, and give the reason for yourevaluation.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Financial Accounting

ISBN: 978-0133427530

10th edition

Authors: Walter Harrison, Charles Horngren, William Thomas

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