Reference no: EM131719001

Question - The following information is related to Alpha Company's fiscal year 2017.

Income Statement:

Net Income                                    $3,000,000

Depreciation Expense                      500,000

Gain on Sale of Plant Assets            50,000

Interest Expense                             5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable                            ($40,000)

Plant Assets - Purchased                  250,000

Plant Assets - Disposals                   (100,000)

Additional Information:

Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $30,000

Use this information to generate partial Statement of Cash Flows for Alpha Company. Prepare only the section related to Cash Flows from Operating Activities.