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
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.