Reference no: EM132344914

Question

Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows.

Prepare a cash flow statement using the indirect method. Properly title the statement.

Cash balance 2018: $113,500 2017: $37,500

Net income 2018: 142,500 2017: 162,000

Depreciation Expense 2018: 42,000 2017: 35,000

Purchase of Plant Assets 2018: 135,000 2017: 125,000

Disposal of Plant Assets 2018: 40,000 2017: 50,000

Gain (Loss) on Disposal of Plant Assets 2018: (10,000) 2017: 5,000

Accounts Receivable Balance 2018: 64,500 2017: 58,000

Accounts Payable Balance 2018: 42,000 2017: 39,000

Interest Expense 2018: 8,000 2017: 6,000

Income Taxes Paid 2018: 35,000 2017: 28,000

Dividends Paid 2018: 30,000 2017: 25,000

Common Stock Issued for Cash 2018: 20,000 2017: 0