Exercise 23-15

Presented below are data taken from the records of Metlock Company.

		December 31, 2020		December 31, 2019
Cash		$15,000		$7,900
Current assets other than cash		84,100		59,600
Long-term investments		10,000		52,800
Plant assets		332,500		214,400
		$441,600		$334,700
Accumulated depreciation		$19,900		$40,000
Current liabilities		39,600		22,100
Bonds payable		74,200		0
Common stock		256,500		256,500
Retained earnings		51,400		16,100
		$441,600		$334,700

Additional information:

1.		Held-to-maturity debt securities carried at a cost of $42,800 on December 31, 2019, were sold in 2020 for $33,700. The loss (not unusual) was incorrectly charged directly to Retained Earnings.
2.		Plant assets that cost $49,800 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings.
3.		Net income as reported on the income statement for the year was $57,300.
4.		Dividends paid amounted to $10,940.
5.		Depreciation charged for the year was $19,740.

Prepare a statement of cash flows for the year 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)