Exercise 23-15

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

		December 31, 2020		December 31, 2019
Cash		$15,100		$8,000
Current assets other than cash		85,100		59,700
Long-term investments		10,100		53,600
Plant assets		331,900		216,400
		$442,200		$337,700
Accumulated depreciation		$20,100		$40,200
Current liabilities		40,200		21,800
Bonds payable		74,800		0
Common stock		252,200		252,200
Retained earnings		54,900		23,500
		$442,200		$337,700

Additional information:

1.		Held-to-maturity debt securities carried at a cost of $43,500 on December 31, 2019, were sold in 2020 for $34,200. The loss (not unusual) was incorrectly charged directly to Retained Earnings.
2.		Plant assets that cost $50,100 and were 80% depreciated were sold during 2020 for $8,100. The loss was incorrectly charged directly to Retained Earnings.
3.		Net income as reported on the income statement for the year was $56,600.
4.		Dividends paid amounted to $13,980.
5.		Depreciation charged for the year was $19,980.

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).)