Preparing the statement of cash flows—indirect method [15-20 min]Use the Kyler Media Corpo...

Preparing the statement of cash flows—indirect method [15-20 min]

Use the Kyler Media Corporation data in Short Exercise and the results you calculated from the requirements.

Requirement

1. Prepare Kyler Media’s statement of cash flows—indirect method—for the year ended December 31, 2012.

Computing investing and financing cash flows [10 min]

Kyler Media Corporation had the following income statement and balance sheet for 2012:

Requirement

1. Compute for Kyler Media Corporation during 2012 the

a. acquisition of equipment. The business sold no equipment during the year.

---

b. payment of a long-term note payable. During the year, the business issued a $5,300 note payable.