The comparative balance sheet of Beets Industries, Inc. at December 31, 2013 and 2012, is as follows:

Question:

An examination of the income statement and the accounting records revealed the following additional information applicable to 2013:
a. Net income, $441,960.
b. Depreciation expense reported on the income statement: buildings, $44,280; machinery and equipment, $19,440.
c. Patent amortization reported on the income statement, $12,000.
d. A building was constructed for $496,800.
e. A mortgage note for $192,000 was issued for cash.
f. 28,000 shares of common stock were issued at $12 in exchange for the bonds payable.
g. Cash dividends declared, $112,320.
Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...