This problem continues the Davis Consulting, Inc. situation from Problem P13-47 of Chapter 13. Davis Consultings comparative

This problem continues the Davis Consulting, Inc. situation from Problem P13-47 of Chapter 13. Davis Consulting’s comparative balance sheet is shown ­below.

Additional data follows:
a. Depreciation expense for the year, $ 2,653.
b. Davis Consulting had no disposal of plant assets during the year. Plant assets were acquired for cash.
c. Amortization of the discount on bonds payable for the year, $ 3,432.
d. Davis Consulting issued a bonds payable with a face value of $ 400,000, receiving cash of $ 360,384.
e. Net income for the year was $ 141,235.
f. Cash receipts from issuance of common stock totaled $ 112,000.
Prepare the statement of cash flows using the indirectmethod.

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DAVIS CONSULTING, INC. Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Current Assets: Cash Accounts Recelvable Office Supplies 514,936 16,350 1.750 200 37,500 2,200 Long-term Assets: Plants Assets 146,700 (2,753) 698,583 6,000 (100) 24,200 Accumulated Depreciation-lant Assets Total Assets Liabilities Current uabilties: Accounts Payable Salarles Payable Unearned Revenue Interest Payable 10,000 4,100 4,650 685 700 10,667 Long-term Liabilives: Notes Payable Bonds Payable Discount on Bonds Payable 40,000 400,000 36,184) 428,583 Total Liabilities 6,035 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders Equity 130,000 140,000 270,000 $ 698,583 18,000 165 18,165 24,200