Green Leaf 'S Activities for the Year Ended December 31,2016

question 45

Essay

Green Leaf 's activities for the year ended December 31,2016 included the following:
• Comprehensive income totaled $538,000 including $88,000 in other comprehensive income.
• Paid a cash dividend of $80,000 that was declared in 2015.
• Interest expense for the year was $29,000; the opening and closing balances in the interest payable account were $26,000 and $17,000,respectively.
• Accounts receivable increased $33,000 and accounts payable decreased $24,000 during the year.
• The company paid $56,000 cash for equipment.
• The company sold held-to-maturity investments for $26,000.The book value of the investment was $27,000.
• Depreciation expense for the year totaled $19,000.
• Suffered an impairment loss on patents of $10,000.
• Declared and issued a 2-for-l stock split.There were 400,000 ordinary shares outstanding before the split with a collective market value of $100,000,000.
Requirement:
Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.

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Definitions:

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