Here are comparative balance sheets for Alpha Company.

Here are comparative balance sheets for Alpha Company.

ALPHA COMPANY

Comparative Balance Sheets

December 31

Assets

2014

2013

Cash

$72,710

$22,001

Accounts receivable

85,652

76,161

Inventories

169,800

188,601

Land

75,070

100,300

Equipment

259,540

200,580

Accumulated depreciation

(65,861)

(32,198)

    Total

$596,911

$555,445

Liabilities and Stockholders’ Equity

Accounts payable

$39,209

$46,636

Bonds payable

151,530

203,230

Common stock ($1 par)

214,140

175,750

Retained earnings

192,032

129,829

    Total

$596,911

$555,445

Additional information:

  1. Net income for 2014 was $101,690, depreciation was $33,663.
  2. Cash dividends of $39,487 were declared and paid.
  3. Bonds payable amounting to $51,700 were redeemed for cash $51,700.
  4. Common stock was issued for $38,390 cash.
  5. Land was sold for $25,230 cash, there was no loss.
  6. Equipment was purchased for $58,960 cash.

Instructions

statement of cash flows for 2014 using the indirect method. 

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