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On the Basis of the Following Data for Breach Co

Question 137

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On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period.​Stock was issued for cash-3,200 shares at par.Net income for the current year was $76,000.Cash dividends declared and paid were $13,000. On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period.​Stock was issued for cash-3,200 shares at par.Net income for the current year was $76,000.Cash dividends declared and paid were $13,000.

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