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Here are comparative balance sheets for Alpha Company.
Here are 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:
- Net income for 2014 was $101,690, depreciation was $33,663.
- Cash dividends of $39,487 were declared and paid.
- Bonds payable amounting to $51,700 were redeemed for cash $51,700.
- Common stock was issued for $38,390 cash.
- Land was sold for $25,230 cash, there was no loss.
- Equipment was purchased for $58,960 cash.
Instructions
statement of cash flows for 2014 using the indirect method.
