Refer to the information in Problem 15-48.

Required:

Prepare a statement of cash flows by using the worksheet approach.

Problem 15-48

2009 2010 Assets Cash $150,000 70,000 $185,000 80,000 Accounts receivable Investments 30,000 105,000 (32,000) Plant and equipment Accumulated depreciation 100,000 (30,000) 20,000 $310,000 Land 30,000 $398,000 Total assets Liabilities and equity Accounts payable Bonds payable Mortgage payable Preferred stock $ 40,000 60,000 $ 50,000 50,000 20,000 100,000 90,000 $310,000 Common stock 160,000 138,000 $398,000 Retained earnings Total liabilities and equity