Erie Company reported the following comparative balance sheets: Additional information: 1. Net…

Erie Company reported the following comparative balance sheets: Additional information: 1. Net income for 2011 was $20,500. 2. Cash dividends of $7,900 were declared and paid during 2011. 3. Long-term investments with a cost of $28,600 were sold for cash at a gain of $4,100. Additional long-term investments were purchased for $14,400 cash. 4. Equipment with a cost of $14,800 and accumulated depreciation of $13,500 was sold for $3,800 cash. New equipment was purchased for $27,350 cash. 5. Depreciation expense was $18,900. 6. A principal payment of $25,000 was made on long-term notes. 7. Common stock was sold for $31,500 cash. Required: Prepare a statement of cash flows for Erie, using the indirect method to compute net cash flow from operating activities.

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