eBook Exercise 11-51 O(Appendix 11A) Using a Spreadsheet to Prepare a Statement of Cash Flows Comparative balance sheets for Cincinnati Health Club are presented below. Cincinnati Health Club Balance Sheets December 31, 2013 and 2012 2013 2012 ASSETS Current assets: s 5,300 10,500 19,800 35,600 $ 9,200 8,900 18,600 36,700 Accounts receivable Inventory Total current assets Property, plant, and equipment Building Equipment $ 490,000 280,000 $490,000 270,000 $760,000 (120,000) Accumulated depreciation (148,000 Net property, plant, 622,000 $657 600 640,000 Total assets LIABILUITIES AND EQUITY Current liabilities: $ 55,300 $ 36,100 11,700 Accounts payable Salaries payable 9,500 Income taxes payable1,100 Total current liabilities Long-term liabilities s 65,9009900 $ 57,700 350,000 415,900 Bonds payable Total liabilities Equity 400,000 $457,700 $180,000 61,700 Common stock $150,000 69,000 Retained earnings Total liabilities and equity Additional information: 219,000 $676,700 Total equity 241,700 1. Cincinnati Health Club reported net income of $2,700 for 2013. 2. No buildings or equipment were sold during 2013. Equipment was purchased for $10,000 cash 3. Depreciation expense for 2013 was $28,000 4. Bonds payable of $50,000 were issued for cash during 2013. 5. Common stock of $30,000 was issued during 2013. 6. Cash dividends of $10,000 were declared and paid during 2013 Required