On the basis of the following data, for Teller Co. for 2006 and the preceding year ended December 31, 2005, prepare a statement of cash flows in excel. Use the indirect method of reporting cash flows from operating activities.

Additional Information

1) Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000;

2) The stock was issued for cash;

3) The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000.

Balance Sheets

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Year Year 2005 Cash Accounts receivable (net) Inventories Equipment Accumulated depreciation 2006 S 100,000 S S 78,000 S S 101,500 S S 410,000 S s (150,000) S S 539,500 S 78.000 85.000 90.000 370,000 (158,000) 465,000 S 58,500 S S 5,000 S S 200,000 S Paid-in capital in excess of par--common stock S 62,000 S 214,000 S S 539,500 S 55,000 4,000 170.000 60.000 176.000 465.000 Accounts payable (merchandise creditors) Cash dividends payable Common stock, $10 par Retained earnings