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The comparative balance sheets for Nelson Company appear below:
Additional information:
1. Net income for the year ending December 31, 2012, was $20,000.2. Cash dividends of $12,000 were declared and paid during the year.3. Long-term investments that had a book value of $18,000 were sold for $13,000.4. Sales for 2012 are $120,000.5. Issued new common stock of $50,000 in exchange for new equipment
Instructions:
Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method.
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