Here is a comparative balance sheet for Padgett Company:

Additional information:
Net income for 2012 was $151,410.
Cash dividends of $66,150 were declared and paid.
Bonds payable amounting to $73,500 were redeemed for cash $73,500.
Common stock was issued for $61,740 cash.
No equipment was sold during 2012.
(a) Complete the statement of cash flows for 2012 using the indirect method.

(b) Compute these cash-basisratios:

PADGETT COMPANY Comparative Balance Sheet December 31 2012 S107,310 S32,340 124,950 249,900 277,830 110,250 382,200 294,000 (97,020) (47,040) $877,590 S815,850 2011 Assets Cash Accounts receivable Inventories 111,720 147,000 an Equipment Accumulated Depreciation Total Liabilities and Stockholders' equitv Accounts pavable Bonds payable Common stock (S1 par) Retained earnings Total S57,330 S69,090 220,500 294,000 317,520 255,780 282,240 S877,590 S815,850 196,980 PADGETT COMPANY Statement of Cash Flows For the Year Ended December 31. 2012 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash 151,410 vided by operating activities Depreciation expense Decrease in inventory Increase in accounts receivable Decrease in accounts payable 49,980 27,93 -13,230 52,920 204,330 Net cash providedby operating activities Cash flows from investing activities Sale of land 36,7 88,20 Net cash usedby investing activities Cash flows from financing activities 51,450 issuance of common stock Redemption of bonds Payment of cash dividends 61,74 -73 -66,150 Net cash usedby financing activities Net increase in cash Cash at beginning of period Cash at end of period 77,910 74,970 32 107,310