60.1K

Verified Solution

Link Copied!

Condensed financial data of Crane Inc. follow. \begin{tabular}{lllll} Total & $1.160.250 & $875,075 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Accountspayable$173.400$114.410 \begin{tabular}{l|l|l} Accrued expenses payable & 28.050 & 35,700 \end{tabular} Bonds payable Common stock Crane Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue $660,382 Crane Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue: $660,382 Less: Cost of goods sold $230,282 \begin{tabular}{l} Operating expenses, excluding depreciation 21,097 \\ \hline \end{tabular} Depreciation expense 79.050 Income tax expense 46,376 Interest expense 8.041 Loss on disposal of plant assets Net income 12.750$262.786397.596 Additional information: 1. New plant assets costing $170,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $97.750 and accumulated depreciation of $82,450 were sold for $2.550 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $44.251 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign es; - 15 , ooo or in parenthesiseg (15,000). CRANE INC. Statement of Cash Flows - Indirect Method $ Adjustments to reconcile net income to 5

Answer & Explanation Solved by verified expert

See Answer