Format cash flows from operating activities

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Reference no: EM13533097

Preparing the statement of cash flows-indirect method

The 2012 comparative balance sheet and income statement of Appleton Group, Inc., follow. Appleton had no noncash investing and financing transactions during 2012.

APPLETON GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011


2012

2011

Increase (Decrease)

Current assets:




Cash and cash equivalents

$ 9,300

$ 15,300

$ (6,000)

Accounts receivable

42,000

43,200

(1,200)

Inventories

97,100

93,700

3,400

Plant assets:




Land

41,100

16,000

25,100

Equipment, net

101,200

94,300

6,900

Total assets

290,700

$ 262,500

$ 28,200

Current liabilities:




Accounts payable

$ 25,600

$ 26,600

$ (1,000)

Accrued liabilities

24,000

22,800

1,200

Long-term liabilities:




Notes payable

46,000

62,000

(16,000)

Stockholders' equity:




Common stock

140,300

131,400

8,900

Retained earnings

54,800

19,700

35,100

Total liabilities and stockholders' equity

$ 290,700

$ 262,500

$ 28,200

APPLETON GROUP, INC. Income Statement Year Ended December 31, 2012

Revenues:



Sales revenue


$ 439,000

Interest revenue


11,800

Total revenues


$ 450,800

Expenses:



Cost of goods sold

$ 205,500


Salary expense

76,500


Depreciation expense

15,500


Other operating expense

49,500


Interest expense

24,300


Income tax expense

16,300


Total expenses


387,600

Net income


$ 63,200

Requirement

1. Prepare the spreadsheet for the 2012 statement of cash flows. Format cash flows from operating activities by the indirect method.

Reference no: EM13533097

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