Nathan Herrmann has completed the basic format to be used in preparing the statement of...
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Accounting
| Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CEO Consultants. |
| Listed below in random order are line items to be included in the statement of cash flows. |
| Purchase of equipment | $ 229,000 |
| Increase in inventory | 35,000 |
| Increase in prepaid rent | 7,500 |
| Payment of dividends | 31,000 |
| Depreciation expense | 13,000 |
| Increase in accounts receivable | 47,000 |
| Increase in accounts payable | 15,000 |
| Loss on sale of land | 12,000 |
| Net income | 69,000 |
| Repayment of notes payable | 49,000 |
| Cash received from the sale of land | 7,500 |
| Issuance of common stock | 241,000 |
| Prepare the statement of cash flows for CEO Consultants using the indirect method. |
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