Condensed financial data of Sinjh Ltd. follow.

Sinjh Ltd.
Comparative Statements of Financial Position
December 31

Equity and Liabilities

Sinjh Ltd.
Income Statement
For the Year Ended December 31, 2014

Additional information: 
1. New equipment costing $80,000 was purchased for cash during the year.
2. Old equipment having an original cost of $57,500 and accumulated depreciation of $50,000 was sold for $12,500 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $43,900 was declared and paid during the year.

Instructions 
Prepare a statement of cash flows using the indirect method.

Transcribed Image Text:

Assets 2014 2013 Equipment Accumulated depreciation-equipment Long-term investments Prepaid expenses $265,000 (47,000) $242,500 (52,000) 140,000 29,300 112,500 92,800 100,350 114,000 26,000 Inventory Accounts receivable 102,850 33,000 48,400 $514,750 Cash Total $692,950 Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued expenses payable $220,000 234,450 110,000 112,000 16,500 $692,950 $175,000 105,450 150,000 67,300 17,000 Total $514,750