cash flow 405197

The comparative balance sheets for Gould Company as of December 31 are presented below.

GOULD COMPANY
Comparative Balance Sheets
December 31 Don't use plagiarized sources. Get Your Custom Essay on cash flow 405197 For $10/Page 0nly Order Essay
Assets	2011	2010
Cash	$ 71,290	$ 44,830
Accounts receivable	44,040	62,020
Inventory	151,350	141,860
Prepaid expenses	14,990	21,460
Land	104,900	130,260
Equipment	228,190	154,960
Acc. depr. equipment	(44,620)	(35,020)
Building	199,840	199,840
Acc. depr. building	(60,390)	(39,940)
Total	$709,590	$680,270

Liabilities and Stockholders’ Equity
Accounts payable	$ 48,140	$ 39,560
Bonds payable	259,810	299,710
Common stock, $1 par	199,800	159,900
Retained earnings	201,840	181,100
Total	$709,590	$680,270

Additional information:

Operating expenses include depreciation expense of $41,790 and charges from prepaid expenses of $6,470.
Land was sold for cash at book value.
Cash dividends of $16,160 were paid.
Net income for 2011 was $36,900.
Equipment was purchased for $94,560 cash. In addition, equipment costing $21,330 with a book value of $9,590 was sold for $6,230 cash.
Bonds were converted at face value by issuing 39,900 shares of $1 par value common stock.

Prepare a statement of cash flows for the year ended December 31, 2011, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, 17, 5, 1. If amount decreases cash flow, use either a negative sign preceding the number eg. 45 or parentheses eg (45).)

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