statement of cashflows

Project Description:

use the following information for problems 15-36 and 15-37:
solpoder corporation has the following comparative financial statements:
solpoder corporation
comparative balance sheets
at december 31, 2013 and 2014
2013 2014
assets
cash $ 49,500 $ 81,000
accounts receivable, net 135,000 108,000
inventory 27,000 54,000
plant and equipment 180,000 180,000
accumulated depreciation (36,000) (45,000)
total assets $355,500 $378,000
liabilities and equity
accounts payable $ 57,600 $ 18,000
common stock 190,800 207,000
retained earnings 107,100 153,000
total liabilities and equity $355,500 $378,000
solpoder corporation
income statement
for the year ended december 31, 2014
sales $ 297,000
less: cost of goods sold (175,500)
gross margin $ 121,500
less: operating expenses (58,500)
net income $ 63,000
dividends of $17,100 were paid. no equipment was purchased or retired during the current
year.

1) prepare a statement of cash flows using the indirect method.

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