The following balance sheet and income statement data were taken from the records of Martland Stores for
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The following balance sheet and income statement data were taken from the records of Martland Stores for the year ended December 31, 2012.
Prepare the operating sections of the statement of cash flows, and present it under both the direct and indirectmethods.
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2012 2011 BALANCE SHEET S 6,000 12,000 4,500 900 $23,400 38,000 S61,400 S 1,400 13,500 9,800 1,200 S25,900 37,500 S63,400 Cash Accounts receivable Inventory Prepaid insurance Total current assets Machinery (net) Total 2012 2011 Accounts payable Wages payable Total current liabilities $12,600 9,500 $22,100 17,000 15,000 7,300 S13,100 7,400 S20,500 17,000 15,000 10,900 $63,400 Bonds payable (net) Capital stock Retained earnings Total 561,400 INCOME STATEMENT Revenues $96,000 Cost of goods sold Gross profit Wage expense Insurance expense Interest expense Depreciation expense Net loss 64,000 532,000 (18,600) (9,200) (2,100) (5,700) 5 3,600
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