Question: Comparative balance sheets for Cincinnati Health Club are presented below Additional

Comparative balance sheets for Cincinnati Health Club are presented below.
Additional information:
1. Cincinnati Health Club reported net income of $2,700 for 2011.
2. No buildings nor equipment were sold during 2011. Equipment was purchased for $10,000 cash.
3. Depreciation expense for 2011 was $28,000.
4. Bonds payable of $50,000 were issued for cash during 2011.
5. Common stock of $30,000 was issued during 2011.
6. Cash dividends of $10,000 were declared and paid during 2011.

Required:
Using a spreadsheet, prepare a statement of cash flows for 2011. Assume Cincinnati Health Club uses the indirect method.

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  • CreatedSeptember 22, 2015
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