The comparative balance sheets and income statement for Franklin Corporation follow:

by | Jun 19, 2022 | accounting

Other operating expenses   (258,300 )

Net income $ 149,177

Other Information


  1. Purchased land for $110,900.

  2. Purchased new equipment for $99,900.

  3. Sold old equipment that cost $133,850 with accumulated depreciation of $112,650 for $21,200 cash.

  4. Issued common stock for $55,000.

**********Prepare the statement of cash flows for 2017 using the indirect method.

(Amounts to be deducted and cash outflows should be indicated by a minus sign.)

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