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.

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