Question

Additional Information:
	A. Sold plant assets with a cost of$75,000 and accumulated depreciation of $7,500,
	yielding again of disposal of plant assets of $12,000.
	B. Purchased plant assets by payingcash.
	C. Issued Notes Payable for Cash.
	D. Sold investment in Walking Dead Coat cost (zero gain/loss).
	E. Issued Common Stock for Cash.
	F. Purchased Treasury Stock for Cash.
	Requirements:
	Prepare, in good form, a Statement of Cash Flowsusing the indirect method.

	Statement of Cash Flows
	Angela's Cleaning Consortium				Seymour-Johnson, Inc.
	Comparative Balance Sheet				Income Statement
	December 31, 2020 and 2019				For the Year Ended December 31, 2020
		2020	2019		Net sales		$ 386,000
	ASSETS				Cost of goods sold		(212,000)
	Current assets				Gross profit		174,000
	Cash	$ 66,500	$ 62,000		Operating expenses
	Accounts receivable	95,000	113,000		Salaries and wages expense		(66,000)
	Merchandise inventory	172,000	165,000		Depreciation expense		(25,000)
	Total current assets	333,500	340,000		Other operating expenses		(28,000)
	Long-term investments				Income from operations		55,000
	Investment in Walking Dead Co.	-	50,000		Other revenues and gains
	Property, buildings, and equipment	507,000	304,000		Interest revenue		15,000
	Less: Accumulated depreciation	(59,500)	(42,000)		Dividend revenue		9,700
	Total assets	$ 781,000	$ 652,000		Gain on disposal of plant assets		12,000
	Liabilities and Stockholders' Equity				Other expenses and losses
	Current liabilities				Interest expense		(15,000)
	Accounts payable	$ 144,000	$ 175,000		Income before income taxes		76,700
	Accrued liabilities	17,000	47,000		Income tax expense		(14,000)
	Total current assets	161,000	222,000		Net Income		$ 62,700
	Long-term Liabilities
	Notes payable, long-term	160,000	90,000
	Totalliabilities	321,000	312,000
	Stockholders' equity
	Common stock	370,000	250,000
	Retained earnings	140,000	90,000
	Treasury stock	(50,000)	-
	TotalStockholders’ Equity	460,000	340,000
	Total Liabilities & Stockholders' Equity	$ 781,000	$ 652,000