ex 22 71 calculations for statement of cash flows indirect method cornwall ltd sold 4314482

Ex. 22-71 Calculations for statement of cash flows (indirect method)

Cornwall Ltd. sold a machine that cost $19,000 and had a book value of $11,000 for $13,000. Data from the corporation's comparative statements of financial position are:

Dec 31/17Dec 31/16

Machinery$200,000$173,000

Accumulated depreciation48,00034,000

Instructions

Based on the above information, there are four items that need to be shown on a statement of cash flows (indirect method). Calculate these four items. Show your calculations.