rect method.Carlson Software Corp. has assembled the following data for the years ending December 31,P12-60A (Learning Objectives 2, 3: Prepare the statement of cash flows-indirect method)2016 and 20153. Prepalcash flows from opl45678$10111213Current Accounts:Current assets:Cash and cash equivalentsAccounts receivableInventoriesPrepaid expensesCurrent liabilities:Accounts payableIncome tax payableAccrued liabilitiesTransaction Data for 2016:Acquisition of land by issuinglong-term note payable.....Stock dividendsCollection of loan.Depreciation expense.Purchase of buildingwith cash.Retirement of honds payableby issuing common stock....Purchase of long-terminvestment with cash........$202,00034,90012,40019,000159,00080,00045,30031, 2016 FormatDecember 31,2016$ 105,80018,0008,6002,900equipmentAmortization expense$ 9,30028,60015,000Purchase of treasury stock.Loss on sale of equipment......Payment of cash dividendsIssuance of long-term notepayable to borrow cash.....Net income........Issuance of common stockfor cashProceeds from sale of2015$ 20,00064,10086.0001,600$ 55,40016,60027,400$14,10032,00046,00052.20058,00083,10012,3005,500Requirement1. Prepare Carlson Software Corp.'s statement of cash flows using the indirect method toreport operating activities. Include an accompanying schedule of noncash investing andfinancing activitics.

Cash flows statement is one of the financial statement which shows all cash inflows and cash…

Requirement 1. Prepare Carlson Software Corp.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financing activities.

Requirement 1. Prepare Carlson Software Corp.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financing activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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