Question - The following items were gathered from Ledbetter Company's general ledger:
|
Net income
|
$59,210
|
|
Loss on sale of equipment
|
13,260
|
|
Beginning cash balance
|
18,910
|
|
Purchase of new factory equipment
|
76,810
|
|
Proceeds from sale of equipment
|
28,300
|
|
Depreciation
|
9,710
|
|
Payment of cash dividends
|
20,460
|
|
Increase in accounts receivable
|
6,810
|
|
Proceeds from bank loan
|
26,000
|
|
Decrease in inventory
|
16,050
|
|
Increase in accounts payable
|
13,680
|
|
Increase in accrued liabilities
|
4,320
|
Using the indirect method, construct Ledbetter's statement of cash flows.