Additional Data:

1. Net income for the year amounted to $104,000.

2. Cash dividends were paid amounting to 4% of par value.

3. Land was sold for $120,000.

4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $105,000.

Sharp Company

Comparative Balance Sheet

31-Dec

Instructions
Prepare a statement of cash flows using the indirectmethod

Transcribed Image Text:

2011 S64,000 53,000 171,000 180,000 300,000 (75,000) 1,545,000 (177000 $2.061,000 S 172,000 2010 S 36.000 57.000 123,000 285,000 300,000 (60,000) 900,000 Cash Accounts receivable, net Inventory an Building Accumulated depreciation Equipment Accumulated depreciation (141.000 1500,000 150,000 Accounts payable Bonds payable Capital stock, S10 par Retained earnings 480,000 1,125,000 1,125,000 225,000 1.500,000 284,000 2.061.000