need to prepare indirect cash flow from operations 3. (25 Total Points) Listed below...
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need to prepare indirect cash flow from operations
3. (25 Total Points) Listed below is a balance sheet for Saxa Company for 2019 and 2018 as well as Saxa's 2019 income statement. Cash Accounts Receivable Inventory Prepaid Rent Long-Term Investments Equipment Accumulated Depreciation Accounts Payable Dividends Payable Notes Payable (due in 5 years) Common Stock Retained Earnings 2019 $16,000 11,000 7.000 3.000 5.000 50,000 (10,000) 8.000 1,000 8.000 20,000 45,000 2018 $12,000 10,000 10,000 5,000 2.000 30,000 (12,000) 6,000 3,000 5,000 12,000 31.000 Revenue Cost of Goods Sold Rent Expense Other Operating Expenses Loss on Sale of Equipment Income Taxes Net Income 2019 $95,000 (40,000) (4,000) (17.000) (3,000) (10,000) $21,000 In addition, Saxa sold equipment with an original cost of $15,000 for $3,000 cash. All equipment purchases were made with cash. No long-term investments were sold during the year. Depreciation expense is included in other operating expenses
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need to prepare indirect cash flow from operations