The comparative balance sheets for Gillen Inc. appear below:
Additional information:
1. Net earnings for the year ending December 31, 2013 were $27,000.
2. Cash dividends of $13,000 were declared and paid during the year ended December 31, 2013.
3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2013.
Prepare a cash flow statement for the year ended December 31, 2013, using the indirect method.

Question

The comparative balance sheets for Gillen Inc. appear below:
  Additional information:
1. Net earnings for the year ending December 31, 2013 were $27,000.
2. Cash dividends of $13,000 were declared and paid during the year ended December 31, 2013.
3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2013.
Prepare a cash flow statement for the year ended December 31, 2013, using the indirect method.

Quizplus · Accepted Answer

The Answer of The comparative balance sheets for Gillen Inc. appear below:
  Additional information:
1. Net earnings for the year ending December 31, 2013 were $27,000.
2. Cash dividends of $13,000 were declared and paid during the year ended December 31, 2013.
3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2013.
Prepare a cash flow statement for the year ended December 31, 2013, using the indirect method.

The Comparative Balance Sheets for Gillen Inc