Reference no: EM131726324
Question - 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.