On the Basis of the Following Data for Breach Co

question 163

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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