Based on the information provided below for Krackle Corp., complete the following worksheet to be used to prepare the statement of cash flows using the indirect method.
(a) Net income for the year was $30,000.
(b) Dividends of $10,000 were declared and paid.
(c) Krackle's only noncash expense was depreciation which totaled $50,000.
(d) The company purchased plant assets for $70,000.
(e) Notes payable in the amount of $40,000 were issued during the year for cash.
Definitions:
Pericarditis
An inflammation of the pericardium, the thin sac-like membrane surrounding the heart, which can cause chest pain and other symptoms.
Hypotension
A medical condition characterized by blood pressure that is lower than normal, which can result in symptoms like dizziness or fainting.
Coronary Heart Disease (CHD)
A disease characterized by the build-up of plaque in the coronary arteries, leading to reduced blood flow to the heart.
Depression
A common but serious mood disorder featuring persistent feelings of sadness, hopelessness, and a loss of interest or pleasure in daily activities.
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