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Calculate statement of cash flows using the indirect method

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Reference no: EM131105233

Barton Company uses the indirect method of preparing the Statement of Cash Flows and reports the following comparative balance sheet information. As customary, the most recent data is in the first column.

Balance Sheets               12-31-2012           12-31-2011

Cash                                 $ 70,000                $ 80,000

Inventory                           135,000                155,000

Equipment                          255,000                 205,000

Accumulated depreciation    (40,000)                (25,000)

                                         420,000                 415,000

Accounts Payable               $ 87,000               $ 110,000     

Bonds Payable                       73,000                 80,000

Common Stock                    120,000                110,000

Retained Earnings                 140,000               115,000

                                          420,000             415,000

Addiadditional Information:

Net income for 2012 was $30,000. No equipment was disposed of during 2012.

Required: Prepare a Cash Flow Statement using the indirect method.

Reference no: EM131105233

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