A spreadsheet for a statement of cash flows is presented below along with the following additional information. a Net income was $529,000. Dividends declared $100,000, payable January 31 of next year. On January 31 of current year, $90,000 was paid for dividends declared for last year. 0 5-year Bonds with a face value of $60,000 were issued for $50,000 in the year. One year of discount amortization using the straight-line method was recorded. 1,000 shares of common stocks ($100 par per share) were issues for $150,000. Purchased 30% interest in Kent Company for $90,000, and classified it as Equity method investment. Kent Company reported net income of $50,000, and declared no dividend for the year. The preferred stock was converted to an equal number of common shares. The book value method was used. Property, plant, and equipment costing $200,000 was sold for $140,000. The asset had an accumulated depreciation of 180,000 at the date of sale. Required: Complete the spreadsheet

Balances				Worksheet Entries
Account Titles			Change	Debit		Credit
Debits
Cash			99,000
Accounts Receivable			400000
inventory			-150,000
equity method investment			105000
PPE			244000
Discount on Bonds Payable			8000
Credits
Accumulated Depreciation			-50000
Accounts Payable			300000
Salaries Payable			-200000
dividends payable			10000
income tax payable			9000
Deferred Tax Liabilities			-2,000
Bonds Payable			60,000
preferred stock			-500000
common stock			600,000
Additional Paid-in Capital			5000
retained earnings			429,000
				0		0
Worksheet Entries
				Debit		Credit
Cash Flows from Operating Activities:
Cash Flows from Investing Activities:
Cash Flows from Financing Activities:
Investing and Financing Activities not affecting cash
Net increase in cash
Totals