Review the data from P14-27A.

Requirement
1. Prepare the spreadsheet for Rolling Hills€™ 2012 statement of cash flows. Format cash flows from operating activities by the indirectmethod.

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ROLLING HILLS, INC. Comparative Balance Sheet December 31, 2012 and 2011 Increase 2012 (Decrease) 2011 Current assets: $ 26,400 S 15,900 s 10,500 Cash and cash equivalents Accounts reccivable 25,500 1,200 (11,900) 26,700 Inventories 79,800 91,700 Plant assets: Land 11,000 23,600 34,600 Equipment, net 103,900 89,700 14,200 $ 271,400 S 233,800 S 37,600 Total assets Current liabilitics: $ 35,500 S 30,600 S Accounts payable 4,900 Accrued liabilities 28,600 30,700 (2,100) Long-term liabilitices: Notes payable Stockholders' cquity: (23,000) 78,000 101,000 88,800 64,900 23,900 Common stock Retained carnings 40,500 6,600 33,900 Total liabilities and stockholders' equity S 271,400 S 233,800 S 37,600