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Question

Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and

2017 follows. Prepare a cash flow statement using the indirect method. Properly title the statement.

 20182017Cash balance$113,500$37,500Net income142,500162,000Depreciation Expense42,00035,000Purchase of Plant Assets135,000125,000Disposal of Plant Assets40,00050,000Gain (Loss) on Disposal of Plant Assets(10,000)5,000Accounts Receivable Balance64,50058,000Accounts Payable Balance42,00039,000Interest Expense8,0006,000Income Taxes Paid35,00028,000Dividends Paid30,00025,000Common Stock Issued for Cash20,0000  $0

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