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# The following information relates to Clover Building Supply, Inc. The company leases a building adjacent to its

land.

Assets 2019 2018

Cash \$133,500 \$156,000

A/R net 177,000 180,000

Merchandise inventory 525,000 360,000

Equipment 1,237,500 945,000

Accum. Depreciation-equipment (360,000) (315,000)

Land 225,000 45,000

Total Assets \$1,938,000 \$1,371,000

Liabilities and Stockholders Equity

A/P \$ 131,250 \$122,250

Accrued liabilities payable 6,750 11,250

Capital stock-common-\$par 1,125,000 900,000

Paid-in capital in excess of par 450,000 225,000

Retained Earnings 225,000 112,500

Total Liabilities and stockholder equity \$1,938,000 \$1,371,000

1. Net income was \$292,500 for the year.
2. Fully depreciated equipment costing \$45,000 was sold for \$11,250 (a gain of \$11,250), and equipment costing \$337,500 was purchased for cash.
3.  Depreciation expense for the year was \$90,000.
4.  Land was purchased for \$180,000.
5.  An additional 7,500 shares of common stock were issued for cash at \$60 per share (total proceeds, \$450,000).
6. Cash dividends of \$180,000 were declared and paid.

-The company paid interest of \$18,000 and income taxes of \$195,000.

I need help creating a statement of cash flows but it has to be done using the indirect method.

I am also not sure how to do/log in any necessary supplemental schedule(s).

Statement of Cash Flows Indirect Method
For the year ended 2019 Particulars AmountS
CASH FROM OPERATING ACTIVITIES _
Net Income Note 1 2,92,500
Less: Gain on sale of...

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