The Following Information Is Available for the Ehrens Corporation

question 96

Essay

The following information is available for the Ehrens Corporation:
Additional information:
(1)There was no gain or loss on the sales of the long-term investments,nor on the bonds retired.
(2)Old equipment with an original cost of $37,550 was sold for $2,100 cash.
(3)New equipment was purchased for $67,550 cash.
(4)Cash dividends of $33,600 were paid.
(5)Additional shares of stock were issued for cash.
Prepare a complete statement of cash flows for calendar-year 2013 using the indirect method.

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Definitions:

Actual Authority

The express or implied power granted by a principal to an agent to act on the principal’s behalf.

Borg

A fictional collective from the "Star Trek" universe that assimilates species and technologies to achieve perfection.

Crater

A bowl-shaped cavity on the surface of a planet, moon, or asteroid, typically caused by the impact of a meteorite.

Ratification

The act of approving or sanctioning an agreement or treaty that makes it officially valid.