Question

2.2: Using the information below, prepare in good form a Statement of Cash Flows for en
orporation by indirect method. Information from the December 31, 2012 and 2011 balance sheet
rystal Corporation are presented below.
(15)
2012
2011
Cash
$ 30,000
$ 50,000
Accounts Receivable, net
410.000
460,000
Inventory
300,000
320,000
20,000
15,000
Prepaid Expenses
Long-Term Investments
50,000
25,000
Land
560.000
300,000
n
2,000,000
1,900,000
Buildings and Equipment
Accumulated Depreciation
(800,000)
1770,000)
Total Assets
$ 2,570,000
$ 2,300,000
Accounts Payable
$ 300,000
$ 120,000
Accrued Liabilities
40,000
50,000
Bonds Payable
500,000
800,000
Cash flous
Cash Revised
Crystal
Long-Term Note Payable
150,000
0
Common Stock, $2 par value
200,000
160,000
Paid-in Capital in Excess of Par Value
710,000
550,000
operah
Retained Earnings
670.000
620,000
Total Equity & Liabilities
$ 2,570,000
$ 2.300,000
dditional information about 2012 transactions and events:
b)
3)
Net income was $110,000
Depreciation expense on buildings and equipment was $60,000.
Sold equipment with a cost of $50,000 and accumulated depreciation of $30,000 for cash of
$17,000.
Declared and paid cash dividends of $60,000.
Issued a $150,000 long-term note payable for buildings and equipment.
Purchased long-term investments for $25,000.
Paid $300,000 on the bonds payable.
Issued 20,000 shares of $2 par value common stock for $200,000.
Purchased land for $260,000.
Ohren below informatid​

Answer 1

ANSWER PROBLEM...!!!!!