Accountants for Johnson, Inc., have assembled the following data for the year ended December

Accountants for Johnson, Inc., have assembled the following data for the year ended December 31, 2015:

	December 31,
	2015	2014
Current Accounts:
Current assets:
Cash and cash equivalents	$ 92,100	$ 17,000
Accounts receivable	64,500	69,200
Inventories	87,000	80,000
Current liabilities:
Accounts payable	57,900	56,200
Income tax payable	14,400	17,100

Issuance of common stock for cash			$ 40,000
Depreciation expense			25,000
Purchase of equipment			75,000
Acquisition of land by issuing long-term note payable			122,000
Cost basis of building sold			53,000
Payment of note payable			$48,100
Payment of cash dividends			54,000
Issuance of note payable to borrow cash			67,000
Gain on sale of building			5,500
Net income			70,500

Requirement

1.Prepare Johnson's statement of cash flows using the indirect method. Include an accompanying schedule of noncash investing and financing activities.

13 years ago

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johnson_inc_indirect_cashflow.xlsx