Mr. Haolun Liu's Magic Shoppe had the following condensed balance sheet at the end of operation for 2010:

Mr. Haolun Liu 's Magic Shoppe

Balance Sheet

December 31, 2010

Cash	$40,000		Current Liabilities	$35,000
Other current assets	60,000		Long-term Notes Payable	40,000
Total current assets	$100,000		Bonds Payable	50,000
Investments	$25,000		Capital Stock	150,000
Fixed assets (net)	110,000		Retained earnings	80,000
Land	$120,000
Total assets	$355,000		Total Liabilities and Equity	$355,000

During 2011, the following occurred:

a. Mr. Holun Liu 's company sold some of its investments for $13,000.

b. Additional land for a plant expansion was purchased for $25,000.

c. Bonds payable were paid in the amount of $10,000.

d. An additional $35,000 in capital stock was issued.

e. Dividends of $15,000 were paid to stockholders.

f. Net income for 2011 was $48,000 after allowing for $15,000 in depreciation.

g. A second parcel of land was purchased through the issuance of $10,000 in bonds, and $5,000 in long-term notes payable.

a. Prepare a statement of cash flows for the year ended 12/31/2011. (5 marks)

b. Prepare a condensed balance sheet for Haolun Liu 's on December 31, 2011. (5 marks)

(Hint: use an excel sheet or a word table to prepare both the statement of cash\h flows and the balance sheet of Haolun Liu's Magic Shoppe)