Statement of cash flows—indirect method The following items were gathered from Rindt Industries” general ledger:
|
Sale of marketable securities |
$14,000 |
|
Depreciation and amortization expense |
24,262 |
|
Payment of cash dividends |
3,543 |
|
Proceeds from disposal of equipment |
819 |
|
Loss on disposal of equipment |
150 |
|
Net income |
26,043 |
|
Beginning Cash balance |
19,600 |
|
Purchase of equipment |
21,632 |
|
Decrease in Accounts Receivable |
1,048 |
|
Proceeds from issuing common stock |
2,241 |
|
Increase in Inventory |
3,465 |
|
Increase in Accounts Payable |
4,650 |
|
Ending Cash balance |
64,173 |
Required
Using the indirect method, construct Rindt Industries” statement of cash flows.