1PP4 – Statement of cash flows Bauer Company Bauer Company - Comparative Balance Sheets Dec. 31, 2003 Dec. 31, 2004 Assets Cash $8,600 $24,500 Accounts Receivable 48,300 45,900 Inventory 60,200 68,600 Interest Receivable 3,600 2,900 Prepaid expenses 2,800 3,700 Long-term investment 5,200 10,100 Land 96,000 42,400 Property & Equipment - net 73,600 74,500 Total Assets $298,300 $272,600 Liabilities and Equity Accounts payable $40,300 42,400 Note payable 18,100 13,400 Wages payable 2,600 900 Income Tax payable 14,500 13,800 Accrued liabilities 9,700 8,200 Interest payable 2,900 3,700 Note payable, Long-term 94,100 47,400 Common Stock 51,200 59,800 Retained Earnings 64,900 83,000 Total Liabilities and Stockholders' Equity $298,300 272,6002 Other information: 1. Net income $56,200 2. Depreciation expense $13,400 3. Long term investment purchased $4,900 4. Sold land for $46,900, incurring a loss of $6,700 5. Acquired equipment by issuing long-term note payable $14,300 6. Paid long-term note payable$61,000 7. Issued common stock $3,900 8. Paid cash dividends $38,100 9. Paid short-term note payable by issuing stock $4,700 Required: Prepare a Statement of Cash Flows for Bauer Company for the year ended December 31, 2004.3 Bauer Company – Statement of Cash Flows Problem Investment – Long-term Land Operational assets - net Note payable - ST Note payable - LT Common Stock Retained
View Full Document
Unlocking...