Condensed financial data of Windsor Company for 2017 and 2016 are presented below.
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Question & Answer: Condensed financial data of Windsor Company for 2017 and 2016 are presented below……
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COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2017 AND 2016
|Long-term investments (held-to-maturity)||1,300||1,420|
FOR THE YEAR ENDED DECEMBER 31, 2017
|Cost of goods sold||4,730|
|Selling and administrative expenses||930|
|Income from operations||1,350|
|Other revenues and gains|
|Gain on sale of investments||80|
|Income before tax||1,430|
|Income tax expense||540|
|Income retained in business||$630|
During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017.
Prepare a statement of cash flows using the indirect method.
|Statement of cash flow|
|Cash flows from operating activities|