Question: Help solve below: Statement of Cash Flow Presented below are the consolidated nancial statements of The Mann Corporation as ofyearend 2012 and 20131 THE MANN

Help solve below:

Help solve below: Statement of Cash Flow Presented below are the consolidatednancial statements of The Mann Corporation as ofyearend 2012 and 20131 THEMANN CORPORATION Consolidated Balance Sheets As of Year-End ($ thousands) 2013 2012

Statement of Cash Flow Presented below are the consolidated nancial statements of The Mann Corporation as ofyearend 2012 and 20131 THE MANN CORPORATION Consolidated Balance Sheets As of Year-End ($ thousands) 2013 2012 Assets Current assets Cash $80,000 $50,000 Accounts receivable (net) 198,000 152,000 Inventory 142,000 80,000 Prepaid expenses 20,000 20,000 Total current assets 440,000 302,000 Investments in affiliate companies 20,000 - Property and equipment 262,000 160,000 Less: Accumulated depreciation (22,000) (16,000) Property & equipment (net) 240,000 144,000 Total assets $700,000 $446,000 Liabilities & Shareholders' Equity Current liabilities Accounts payable $114,000 $100,000 Accrued expenses payable 40,000 44,000 Dividends payable 14,000 - Total current liabilities 168,000 144,000 Note payabledue in ten years 100,000 Total liabilities 268,000 144,000 Shareholders' equity Common stock, $5 par value 60,000 40,000 Additional paid-in-capital 240,000 232,000 Retained earnings 132,000 30,000 Total shareholders' equity 432,000 302,000 Total liabilities & shareholders' equity $700,000 $446,000 THE MANN CORPORATION Consolidated Income Statement For Year Ended (5 thousands) 2013 2012 Sales $3,360,000 $2,400,000 Cost of goods sold 2,800,000 2,080,000 Gross margin 560,000 320,000 Selling & administrative expenses 386,000 209,600 Depreciation expense 6,000 4,000 Income tax expense 48,000 30,400 Net income $120,000 $76,000 Required Using the above financial data, prepare the statement of cash flow for 2013 using the indirect method. Use a negative sign with answers to indicate a decrease in cash. TH E MAN N CORPORATION Statement of Cash Flows For Year Ended 2013 0 0 0

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