Accountancy, asked by 023deepshikhasingh, 4 months ago

.  A comparative balance sheet and an income statement for Company O are given below:

 





 

The company also provided the following information:

1. The company sold equipment that had an original cost of $13 million and accumulated depreciation of $8 million. The cash proceeds from the sale were $8 million. The gain on the sale was $3 million.

2. The company did not issue any new bonds during the year.

3. The company paid a cash dividend during the year.

4. The company did not complete any common stock transactions during the year.

 

Required:

Using the indirec
t method, prepare a statement of cash flows for the year.

 

Answers

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