The Following Schedule Of Information Relates To Page Products For The Year 2013

I need help with this question. The following schedule of information relates to Page Products for the year, 2013:

Income statement data:

Sales                                                                         $580,000

Depreciation expense                                                     21,000

Net income                                                                    77,000

Cash receipts:

From issuance of common stock                                  $44,000

From sale (at book value) of stock investment                28,000

Cash payments:

For purchase of land                                                  $124,000

To stockholders as dividends                                         22,000

To payoff notes payable                                                14,000

Change in working capital accounts:

Cash increase                                                                $5,000

Accounts receivable increase                                           6,000

Inventory decrease                                                           3,000

Accounts payable decrease                                             4,000

Accrued liabilities increase                                               2,000

The cash balance was $22,000 at the beginning of 2013. In good form, prepare a 2013 statement of cash flows for Page Products using the indirect method.

Prof. Angela


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