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Prepare the statement of cash flows for alpha company

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Reference no: EM132622091

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

Problem 1: Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.

Reference no: EM132622091

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