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  3. g-tdci1 corporation's current year income statemen

G-tdci1 Corporation's current year income statement, comparative balance sheets, and additional information follow. For the...

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Accounting

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G-tdci1 Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and ( 5 ) any change in income Taxes Payable reflects the accrual and cash payment of taxes. Additionol Informotion on Current Year Tralssactions a. Purchased equipment for $51,200cash. b. Issued 12,900 shares of common stock for $5 cash per share c. Declared and paid $98,000 in cash dividends. Required: Prepare a compiete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign

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