Cost of goods sold Gross profit Operating expenses Depreciation expense Rent expense Salaries expense Other operating expenses Net income ther Information (796,138) 701,862 (24,300) (26,380) (252,800) (256,420) $ 141,962 Purchased land for $114,600. Purchased new equipment for $97,000. Sold old equipment that cost $133,190 with accumulated depreciation of $114,890 for $18,300 cash. Issued common stock for $46,000. equired repare the statement of cash flows for 2017 using the indirect method. (Amounts to be deducted and cash outflows hould be indicated by a minus sign.) CAMPBELL CORPORATION Statement of Cash Flows For the Year Ended December 31, Year 2

Cost of goods sold Gross profit Operating expenses Depreciation expense Rent expense Salaries expense Other operating expenses Net income ther Information (796,138) 701,862 (24,300) (26,380) (252,800) (256,420) $ 141,962 Purchased land for $114,600. Purchased new equipment for $97,000. Sold old equipment that cost $133,190 with accumulated depreciation of $114,890 for $18,300 cash. Issued common stock for $46,000. equired repare the statement of cash flows for 2017 using the indirect method. (Amounts to be deducted and cash outflows hould be indicated by a minus sign.) CAMPBELL CORPORATION Statement of Cash Flows For the Year Ended December 31, Year 2

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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