Reference no: EM132427655

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

Income Statement:

Net Income $300,000

Depreciation Expense 50,000

Gain on Sale of Plant Assets 10,000

Interest Expense 500

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

Accounts Payable ($4,000)

Plant Assets - Purchased 250,000

Plant Assets - Disposals (100,000)

Additional Information:

Cash Balance - 12/31/2016: $50,000

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

Dividends paid were $25,000

Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.