Liabilities and Shareholders' Equity: Accounts payable Interest payable $ 2,000 $ 1,400 130 Deferred revenue 860 630 Income taxes payable Notes payable (due 12/31/2023) 580 860 5,600 10,300 6,710 $ 26,180 Common stock 10,300 3,240 Retained earnings Total liabilities and shareholders' equity $16,430 Additional information for the 2021 fiscal year ($ in thousands): 1. Cash dividends of $1,300 were declared and paid. 2. Equipment costing $4,600 was purchased with cash. 3. Equipment with a book value of $800 (cost of $2,100 less accumulated depreciation of $1,300) was sold for $800. 4. Depreciation of $1,900 is included in operating expenses. Required: Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)
Liabilities and Shareholders' Equity: Accounts payable Interest payable $ 2,000 $ 1,400 130 Deferred revenue 860 630 Income taxes payable Notes payable (due 12/31/2023) 580 860 5,600 10,300 6,710 $ 26,180 Common stock 10,300 3,240 Retained earnings Total liabilities and shareholders' equity $16,430 Additional information for the 2021 fiscal year ($ in thousands): 1. Cash dividends of $1,300 were declared and paid. 2. Equipment costing $4,600 was purchased with cash. 3. Equipment with a book value of $800 (cost of $2,100 less accumulated depreciation of $1,300) was sold for $800. 4. Depreciation of $1,900 is included in operating expenses. Required: Prepare Santana Industries' 2021 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 15EA: The following select account data is taken from the records of Reese Industries for 2019. A. Use the...
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