Question

The following information is available for Ivanhoe Company for 2017. Cash used to purchase treasury stock $ 167,388 Cash dividends paid 75,864 Cash paid for interest 77,952 Net income 1,615,764 Sales revenue 2,790,960 Cash paid for taxes 344,520 Cash received from customers 1,970,028 Cash received from sale of building (at book value) 687,648 Cash paid for operating expenses 267,960 Beginning cash balance 38,280 Cash paid for goods and services 971,268 Cash received from issuing common stock 1,235,400 Cash paid to redeem bonds at maturity 696,000 Cash paid to purchase equipment 393,936Prepare a statement of cash flows using the direct method.

Answer 1

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.