Prepare a statement of cash flows using the indirect method.
(please show all work/ calculations)
2017
2016
Assets:
Cash
200,000
70,000
Accounts receivable, net
87,000
65,000
Inventory
55,000
60,000
Property, plant & equipment
700,000
600,000
Accumulated depreciation
(100,000)
(60,000)
Total Assets
942,000
735,000
Liabilities & Equity
Accounts payable
45,000
40,000
Accrued liabilities
46,000
40,000
Common stock
460,000
460,000
Retained earnings
391,000
195,000
942,000
735,000
Sales
1,200,000
Cost of goods sold
650,000
Gross profit
550,000
Operating expenses
180,000
Pre-tax income
370,000...