Condensed financial data of Odgers Inc. follow
Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)
1.New plant assets costing $175,000 were purchased for cash during the year.
2.Old plant assets having an original cost of $100,625 and accumulated depreciation of $84,875 were sold for $2,625 cash.
3.Bonds payable matured and were paid off at face value for cash.
4.A cash dividend of $45,552 was declared and paid during the year.
Further analysis reveals that accounts payable pertain to merchandise creditors.