A comparative balance sheet for Rocker Company appears below: Additional information:
1. Net income for the year ending December 31 2017 was $35000.
2. Cash dividends of $15000 were declared and paid during the year.
3. Long-term investments that had a cost of $17000 were sold for $14000.
4. Sales for 2017 were $120000.
Instructions
Prepare a statement of cash flows for the year ended December 31 2017 using the indirect method.

Question

A comparative balance sheet for Rocker Company appears below:  Additional information:
1. Net income for the year ending December 31 2017 was $35000.
2. Cash dividends of $15000 were declared and paid during the year.
3. Long-term investments that had a cost of $17000 were sold for $14000.
4. Sales for 2017 were $120000.
Instructions
Prepare a statement of cash flows for the year ended December 31 2017 using the indirect method.

Quizplus · Accepted Answer

The Answer of A comparative balance sheet for Rocker Company appears below:  Additional information:
1. Net income for the year ending December 31 2017 was $35000.
2. Cash dividends of $15000 were declared and paid during the year.
3. Long-term investments that had a cost of $17000 were sold for $14000.
4. Sales for 2017 were $120000.
Instructions
Prepare a statement of cash flows for the year ended December 31 2017 using the indirect method.

A Comparative Balance Sheet for Rocker Company Appears Below