Case Study 5-2 Monahan Manufacturing: Preparing and Interpreting a Statement of Cash Flows Balance sheets for Monahan Manufacturing, Inc., appear in Exhibit 5.8. Additional information includes the following (all amounts in thousands): Exhibit 5.8 Monahan Manufacturing, Inc.: Balance Sheets for December 31, 2011 and 2012 (in thousands of dollars) Assets December 31 2011 2012 Current assets Cash $1,790 $1,620 Accounts receivables 4,730 5,260 Inventories 5,020 6,040 Total current assets $11,540 $12,920 Noncurrent assets Land $2,970 $3,150 Buildings and equipment 43,390 47,730 Accumulated depreciation Total noncurrent assets 19,870 21,820 $26,490 $29,060