Question: Following are the line items included in the 2009 statement

Following are the line items included in the 2009 statement of cash flows prepared by The Nine Muses, Inc. (amounts are in thousands):
Proceeds from sale of long-term
Investments................................................... $ 14,077
Depreciation expense..................................... 8,275
Increase in accounts receivable...................... 2,396
Increase in accounts payable.......................... 6,590
Purchase of long-term investments................ 29,939
Net income..................................................... 22,214
Increase in accrued salaries............................ 4,072
Proceeds from sale of property and
equipment...................................................... 2,468
Increase in inventories................................... 7,320
Issuance of long-term notes............................ 126
Reductions of long-term debt........................ 572
Gain on disposal of long-term assets................ 415
Issuance of common stock................................ 10,000
Cash and cash equivalents, beginning
of the year.......................................................... 21,750
Increase in income taxes payable...................... 5,608
Acquisitions of property and equipment........... 31,083
Net increase (decrease) in cash and cash
equivalents.......................................................... ?
Cash and cash equivalents, end of year............... ?
Required:
Prepare The Nine Muses’ statement of cash flows using the indirect method.

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  • CreatedMarch 27, 2015
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