Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.
2012
2011
Cash $209,909 $104,286
Accounts receivable 240,660 247,345
Investments 69,524 98,938
Equipment 398,426 320,880
Less: Accumulated depreciation equipment (141,722 ) (118,993 )
Current liabilities 179,158 201,887
Capital stock 213,920 213,920
Retained earnings 383,719 236,649
Additional information:
Investments were sold at a loss (not extraordinary) of $9,359; no equipment was sold; cash dividends paid were $66,850; and net income was $213,920.
(a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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