A comparative balance sheet for Rocker Company appears below:
Additional information:
1. Net income for the year ending December 31, 2017 was $35,000.
2. Cash dividends of $15,000 were declared and paid during the year.
3. Long-term investments that had a cost of $17,000 were sold for $14,000.
4. Sales for 2017 were $120,000.
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 $35,000.
2. Cash dividends of $15,000 were declared and paid during the year.
3. Long-term investments that had a cost of $17,000 were sold for $14,000.
4. Sales for 2017 were $120,000.
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 $35,000.
2. Cash dividends of $15,000 were declared and paid during the year.
3. Long-term investments that had a cost of $17,000 were sold for $14,000.
4. Sales for 2017 were $120,000.
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