On the basis of the following data for Branch Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method.
Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared and paid of $18,000. 
Definitions:
Dividends
Profits paid out by a company to its stockholders, frequently as a distribution of earnings.
Asset Account
An account on a company's balance sheet that represents the resources owned by the company that have economic value.
Liability Account
An account on the balance sheet indicating obligations or amounts owed to others that will require a future outlay of resources.
Recording
The process of documenting financial transactions in the accounting records.
Q2: Solvency analysis focuses on the ability of
Q19: Classify the following costs as direct,
Q20: Based on the following data for the
Q88: Growth firms generally pay regular dividends to
Q110: Which of the following accounts will be
Q136: A job order cost accounting system provides
Q155: The particular analytical measures chosen to analyze
Q160: The value of a bond stated on
Q167: Identify the following costs as a) prime
Q178: An advantage of the current ratio is