On the Basis of the Following Data for Breach Co

question 95

Essay

On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows for the current year using the indirect method.Assume that equipment costing $25,000 was purchased for cash and no long term assets were sold during the period.Stock was issued for cash-3,200 shares at par.Net income for the current year was $76,000.Cash dividends declared and paid were $13,000.

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