Solution-Prepare a statement of cash flows using the

Prepare a statement of cash flows using the indirect method

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Reference no: EM131527432

Exercise: Part Level Submission

Rojas Corporation's comparative balance sheets are presented below.

ROJAS CORPORATION Comparative Balance Sheets December 31
	2017	2016
Cash	$14,900	$10,800
Accounts receivable	21,700	23,200
Land	20,000	26,200
Buildings	70,300	70,300
Accumulated depreciation-buildings	(15,100)	(10,500)
Total	$111,800	$120,000
Accounts payable	$12,700	$27,900
Common stock	74,600	73,800
Retained earnings	24,500	18,300
Total	$111,800	$120,000

Additional information:

1. Net income was $23,100. Dividends declared and paid were $16,900.
2. No noncash investing and financing activities occurred during 2017
3. The land was sold for cash of $4,600.

Prepare a statement of cash flows for 2017 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).)

Reference no: EM131527432

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Prepare a statement of cash flows using the indirect method

Reference no: EM131527432

Reference no: EM131527432

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