On the Basis of the Following Data for Breach Co

question 159

Short Answer

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 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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Definitions:

Induce

The act of leading or moving by persuasion or influence, often in the context of causing someone to take a certain action or form a certain belief.

Rescind

To revoke, cancel, or repeal a law, order, or agreement.

Physical Harm

Injury or damage to a person's body.

Protecting

The act of keeping someone or something safe from harm or injury.