Question

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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