The comparative balance sheets presented below (in simplified form) are available for Simple Company. During...
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The comparative balance sheets presented below (in simplified form) are available for Simple Company. During fiscal 2018, Simple declared and paid a $90,000 cash dividend, sold land at a $5,000 loss, and retired $75,000 of bonds payable by issuing common stock. It also bought new equipment for $80,000 and sold used equipment at a $3,000 gain; the equipment that was sold originally cost $45,000 and had a $27,000 book value at the time of sale. 2018 2017 Change Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Assets 133,000 33,000 100,000 123,000 99,000 24,000 270,000 283,000 (13,000) 107,000 165,000 (58,000) 335,000 300,000 35,000 (76,000) (63,000) (13,000) 892,000 817,000 Accounts payable Bonds payable Common stock Additional paid-in capital Retained earnings Total Liabilities and Stockholders' Equity_892,000 32,000 70,000 (38,000) 225,000 300,000 (75,000) 210,000 200,000 10,000 111,000 46,000 65,000 314,000201,000 113,000 817,000 Required-Prepare in good form Simple Company's statement of cash flows for fiscal 2018, using the indirect method for the operating
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