1. Equipment with an original cost of $75,100 was sold during the year.2. New equipment was purchased during the year3. No stock dividends were declared during the year.4. The company split its stock 3-for-1 during the year.RequiredPrepare a Statement of Cash Flows in good form using the indirect method for the year endedDecember 31, 2021. Provide all supporting calculations.Place your statement and supporting caleulations hereStepsPlace supporting calculations here for the Statement of Cash Flowsindirect method: starting point is net income, a reconciliation is requiredto adjust it to a cash basis Orange Inc. had the following financial data related to the year ended December 31, 2021.Balance Sheet informationAs at December 3120212020Cash$270,040$138,880Accounts receivable136,36058,800Inventory155,250143,420Equipment351,000(2)291,000Accumulated depreciation(65.000)(62.400)S847.650$569,700Accounts Payables106,393S 80,760Income Taxes Payable11,45010,400Dividends Payable33,60710,000Bonds Payable100,000132,000Common Shares282,000198,000Retained Earnings314.200138.540S847,650$569,700Income StatementFor Year ended December 31Sales$479,892Cost of goods sold$161,644Amortization expense58,800Other expenses17,374Income tax expense10,185Interest expense5,822Loss on sale of equipment16,800(270,625)Net Income$209,267

Name: 1. Equipment with an original cost of $75,100 was sold during the yea
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Description: 1. Equipment with an original cost of $75,100 was sold during the year.2. New equipment was purchased during the year3. No stock dividends were declared during the year.4. The company split its stock 3-for-1 during the year.RequiredPrepare a Stateme

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1. Equipment with an original cost of $75,100 was sold during the year. 2. New equipment was purchased during the year 3. No stock dividends were declared during the year. 4. The company split its stock 3-for-1 during the year. Required Prepare a Statement of Cash Flows in good form using the indirect method for the year ended December 31, 2021. Provide all supporting caleculations. Place your statement and supporting caleulations here Steps Place supporting calculations here for the Statement of Cash Flows indirect method: starting point is net income, a reconciliation is required to adjust it to a cash basis

1. Equipment with an original cost of $75,100 was sold during the year. 2. New equipment was purchased during the year 3. No stock dividends were declared during the year. 4. The company split its stock 3-for-1 during the year. Required Prepare a Statement of Cash Flows in good form using the indirect method for the year ended December 31, 2021. Provide all supporting caleculations. Place your statement and supporting caleulations here Steps Place supporting calculations here for the Statement of Cash Flows indirect method: starting point is net income, a reconciliation is required to adjust it to a cash basis

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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