Solution-Prepare a statement of cash flows for miiler

Prepare a statement of cash flows for miiler corporation

Reference no: EM131772131

Question - Statement of cash flows (indirect method). The following information is taken from Miller Corporation's financial statements

	December 31
	2011	2010
Cash	$90,000	$ 27,000
Accounts receivable	92,000	80,000
Allowance for doubtful accounts	(4,500)	(3,100
Inventory	155,000	175,000
Prepaid expenses	7,500	6,800
Land	90,000	60,000
Buildings	287,000	244,000
Accumulated depreciation	(32,000)	(13,000)
Patents	20,000	35,000
	$705,000	$611,700

Accounts payable	$ 90,000	$ 84,000
Accrued liabilities	54,000	63,000
Bonds payable	125,000	60,000
Common stock	100,000	100,000
Retained earnings-appropriated	80,000	10,000
Retained earnings-un-appropriated	271,000	302,700
Treasury stock at cost	(15,000)	(8,000)
	$705,000	$611,700

	For 2011 Year
Net income	$58,300
Depreciation expense	19,000
Amortization of patents	5,000
Cash dividends declared and paid	20,000
Gain or loss on sale of patents	none

Instructions - Prepare a statement of cash flows for Miiler Corporation for the year 2011 (Use the indirect method.)

Reference no: EM131772131

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Prepare a statement of cash flows for miiler corporation

Reference no: EM131772131

Reference no: EM131772131

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