Using the data presented in E10-5, prepare a statement of cash flows for Consolidated Enterprises Inc. using the direct method of computing cash flows from operating activities.In E10-5Decrease in accounts receivable ……. $ 23,000Increase in accounts payable………. 5,000Increase in inventory…………. 15,000Increase in bonds payable……….. 120,000Equipment purchased………… 380,000Common stock repurchased……… 35,000Depreciation reported for current period….. 73,000Gain recorded on sale of equipment…… 8,000Book value of equipment sold…….. 37,000Goodwill impairment loss………. 3,000Sales ……………… 900,000Cost of goods sold ………… 368,000Dividends paid by parent………. 60,000Dividends paid by subsidiary…….. 30,000Consolidated net income for the year….. 464,000Income assigned to the noncontrolling interest.. 14,000View Solution:
Using the data presented in E10 5 prepare a statement of



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