The comparative balance sheet of Putnam Cycle Co. at December 31, 2010 and 2009, is as follows:

The noncurrent asset, noncurrent liability, and stockholders€™ equity accounts for 2010 are as follows:

Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

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Dec. 31, 2010 Dec. 31, 2009 Assets $ 510,000 460,500 704,700 16,300 175,500 812,500 (227,000) $ 536,000 423,300 646, 100 19,500 266,500 500,500 (212,400) 252,600 (88,200) Cash Accounts receivable (net). Inventories. Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment. 284,600 (78,500) $2,658,600 $2,343,900 Liabilities and Stockholders' Equity $ 512,500 150,000 75,000 520,000 1,401,100 $2,658,600 $ 532,400 Accounts payable (merchandise creditors) Bonds payable Common stock, $1 par. Paid-in capital in excess of par-common stock. Retained earnings 65,000 310,000 1,436,500 $2,343,900