On the basis of the following data for Breach Co.for the year ended December 31,2011 and the preceding year,prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.
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 2010 was $76,000.
Cash dividends declared and paid were $13,000.
Definitions:
Franklin Roosevelt
The 32nd President of the United States (1933-1945), known for his leadership during the Great Depression and World War II, and for implementing the New Deal domestic agenda.
Events In Europe
A reference to significant occurrences, developments, or periods in European history that have had a regional or global impact.
1933 To 1941
A period in world history characterized by the rise of totalitarian regimes, the end of the Great Depression through various economic reforms, and the lead-up to World War II.
Second Term
A subsequent period of office for an elected official, such as a president or governor, immediately following the first term.
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