Prepare the Statement of Cash Flows using the direct method of presentation (see attached file)

Prepare the Statement of Cash Flows using the direct method of presentation (see attached file)

Prepare the Statement of Cash Flows using the direct method of presentation (see attached file)

sing the information below, prepare a statement of cash flows for Lyon Company for the year ended December 31, 2011 using the direct method. Lyon Company Comparative Balance Sheet 12/31/201112/31/2010 Assets Cash Accounts Receivable Inventory Prepaid Rent Long term investments Equipment Accumulated depreciation-equipment 23,000 18,000 27,000 6,000 10,000 14,000 18,000 9,000 18,000 32,000 14,000 87,000 60,000 18,000 116,000 Total assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common Stock Retained Earning 17,000 37,000 40,000 22,000 116,000 7,000 47,000 23,000 10,000 87,000 Total liabilities and stockholders' equity Lyon Company Income Statement For the Year Ended December 31, 2011 120,000 es Expenses: Cost of Good Sold Depreciation Expense Income Tax Expense Interest Expense Loss on sale of investments Rent Expense Wages Expense 50,000 4,000 15,000 2,000 2,000 3,000 20,000 Total Expenses Net income 96,000 24,000