Accessibility Mo 12e Ch 13 Freeman Test Instructions(1) (1) ACCT 2113 Principles of Accounting II 12e Chapter 13Statement of Cash Flows The comparative balance sheet of Freeman Company, for the current year and the preceding year ended December 31, appears below in condensed form: Current Year Preceding Year --------- Cash Accounts receivable (net) Inventories Prepaid expenses Land Buildings Accumulated depreciation - buildings Equipment Accumulated depreciation - equipment $ 24,900 113,100 194.000 3,400 60,000 265,000 (55,800) 195,600 (71,500) $728,700 $ 27,400 94,600 176,500 4,000 80,000 155,000 (43,500) 185,600 (74,500) $605,100 $ 143,700 3.800 Accounts payable Income tax payable Bonds payable Common stock, S1 par Paid-in capital in excess of par-com $ 140,000 4,000 50,000 26,000 350,000 stock 25,000 280,000 NA Accessibility Accumulated depreciation - equipment. (71,500) $728,700 (74,500) $605,100 $ 143,700 3,800 Accounts payable Income tax payable Bonds payable Common stock, $1 par Paid-in capital in excess of par-com Retained earnings $ 140,000 4,000 50,000 26,000 350,000 158,700 $728,700 stock 25,000 280,000 152,600 $605,100 Additional data for the current year are as follows: (a) Net income, $12,100. (b) Depreciation reported on income statement, $39,300. (c) Fully depreciated equipment costing $30,000 was scrapped, no salvage, and equipment was purchased for $40,000. (d) A building was acquired for $110,000 (d) Issued $50,000 of bonds for cash (e) 1,000 shares of common stock were issued at $71 for cash. (1) Cash dividends declared and paid, S6,000. (g) L and costing S20,000 was sold for S34,000. Prepare a statement of cash flows using the indirect method