Gonzalvo Corporations balance sheet at the end of 2013 included the following items. The following information is

Gonzalvo Corporation’s balance sheet at the end of 2013 included the following items.

The following information is available for 2014.
1. Treasury stock was purchased at a cost of $13,200.
2. Cash dividends of $36,000 were declared and paid.
3. A long-term investment in stock was purchased for $19,200.
4. Current assets other than cash increased by $34,800. Current liabilities increased by $15,600.
5. Depreciation expense was $4,800 on the building and $10,800 on equipment.
6. Net income was $66,000.
7. Bonds payable of $60,000 were issued.
8. An addition to the building was completed at a cost of $32,400.
9. Patent amortization was $3,000.
10. Equipment (cost $24,000 and accumulated depreciation $9,600) was sold for $12,000.

Instructions
(a) Prepare a statement of cash flows for 2014.
(b) Prepare a balance sheet at December 31,2014.

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$282,000 36,000 144,000 108,000 Current assets Land Current liabilities Bonds payable Common stock Retained earnings $180,000 120,000 216,000 52,800 $568,800 Accum. depr.-building Accum. depr.-equipment Patents Total (13,200) 48,000 Total $568,800