Bonds were retired during 2016 at face value, plant and equipment were acquired for cash, and common stock was issued for cash. depreciation expense for the year was $35,000. net income was reported at $26,000.

(1) prepare a statement of cash flows for 2016 using the indirect method in the operating activities section.
(2) did chrisman generate sufficient cash from operations to pay for its investing activities

Using Indirect Method

1. Cashflow from operating activities    $

Net income                                        26,000

Add: Depreciation                             35,000

Cashflow from operating activities   61,000

2. Chrisman has generated sufficient cashflow from operating activities to pay for its investing activities.

Explanation:

Cashflow from operating activities equals net income plus adjustment for items not involving movement of cash such as depreciation.

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