Question

In: Accounting

The following information is available for Sunland Company for the year ended December 31, 2017. Beginning...

The following information is available for Sunland Company for the year ended December 31, 2017.

Beginning cash balance $ 46,620
Accounts payable decrease 3,833
Depreciation expense 167,832
Accounts receivable increase 8,495
Inventory increase 11,396
Net income 294,328
Cash received for sale of land at book value 36,260
Cash dividends paid 12,432
Income taxes payable increase 4,869
Cash used to purchase building 299,404
Cash used to purchase treasury stock 26,936
Cash received from issuing bonds 207,200



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).)

Solutions

Expert Solution

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.


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