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From the postings in the accounts, indicate how the information is
reported on a statement of cash flows using the indirect method. The loss
on disposal of equipment was $7,000. (Hint: Cost of equipment
constructed is reported in the investing activities section as a decrease in
cash of $53,000.
E13-7
Rojas Corporation's comparative balance sheets are presented below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash
$14,300
$10,700
Accounts receivable
21,200
23,400
Land
20,000 26,000
Buildings
70,000 70,000
Accumulated depreciation—buildings
(15,000)
(10,000)