Aunt Rhea Corporation
For the Year Ended December 31, 2015
Service Revenue $ 900,000
Operating Expenses 700,000
Net Income before Income Tax $ 200,000
Gain on Investment Sale 10,000
Net income Before Income Taxes $ 210,000
Income Tax Expense 90,000
Net Income $ 120,000
The following partial balance sheet information is also available for 2015 and 2014:
In addition the following transactions took place during 2015:
1. Common stock was issued for $100,000 cash.
2. Long-term investments were sold for $55,000.
3. Cash dividends of $80,000 were paid.
4. The listed operating expenses included a $25,000 loss on the sale of investments and depreciation of $30,000..
Required: Prepare in good form, a cash flow statement for 2015 using the indirect method for Aunt Rhea Corporation.
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