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Statement of Cash Flows Indirect Method The following balance sheets are taken from the records of Golding Company numbers are expressed in thousands Additional information is as follows

Statement of Cash Flows, Indirect Method The following balance sheets are taken from the records of Golding Company (numbers are expressed in thousands):

Additional information is as follows: (a) Equipment costing $10,000,000 was purchased at yearend. No equipment was sold; and (b) Net income for the year was $25,000,000; $10,000,000 in dividends were paid.

Required:

1. Prepare a statement of cash flows using the indirect method.

2. Conceptual Connection: Assess Golding’s ability to use cash to acquire Lemmons Company. Consider the information in Exhibit 15-2 (p. 635) and Cornerstone 15-6 (p. 639) as part of your analysis.

Jun 27 2020 View more View Less

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