The Following Information Is Available for the Eldridge Company

Question 140

The following information is available for the Eldridge Company: img img Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash. (3) New machinery was purchased for $81,060 cash. (4) Cash dividends of $40,320 were paid. Management wishes to classify this under financing activities. (5) Additional shares were issued for cash. Prepare a complete statement of cash flows for year 2011 using the indirect method.