Practice Problem: Statement of Cash Flows presented The Sainfield, just production year. The balance sheet and income statement are below. Two of the four key financial statements remain to be prepared for the stockholders' report. Balance Sheet Sainfield, Co. December 31, 2014 and 2015 2015 2014 Assets 500 1,000 Cash 4,500 5,000 Accounts receivable 6,000 7,000 Inventory $15,000 $20,000 Gross fixed assets 9,000 Accumulated depreciation 6.000 10.00 Net fixed assets Total assets Liabilities and stockholders' equity 1,500 2,000 Accounts payable 2,500 3,000 Notes payable 500 Accruals 10,000 6,000 Long-term debt 500 500 Common stock at par 5,500 5,500 Paid-in capital in excess of par 1,500 50 Retained earnings Total liabilities and stockholders' equity