In: Accounting
PROBLEM 4:
The following information is available for Colaw Corporation for the year ended December 31, 2012.
Beginning cash balance |
$ 35,000 |
Accounts payable decrease |
3,200 |
Depreciation expense |
152,000 |
Accounts receivable increase |
8,200 |
Inventory increase |
13,000 |
Net income |
269,100 |
Cash received for sale of land at book value |
35,000 |
Sales |
747,000 |
Cash dividends paid |
12,000 |
Income tax payable increase |
4,700 |
Cash used to purchase building |
144,000 |
Cash used to purchase treasury stock |
32,000 |
Cash received from issuing bonds |
130,000 |
Instructions
Prepare a statement of cash flows using the indirect method.