Edison Corporation
Edison Corporation
The income statement and comparative balance sheet of Edison Corporation is given below:
Income Statement
For the year ended December 31, 2017
Sales $ 3,450
Cost of goods sold $ 2,350
Gross profit $ 1,100
Selling and administrative expenses $ 465
Operating income $ 635
Other revenues and gains
Gain on sale of investments $ 40
Required
Using the data given above, prepare statement of cash flows of Edison Corporation year 2017 using
the indirect method.