Reference no: EM131775339
The following information is taken from Prince corporations financial statements.
2004 2003
Cash 100000 27000
Accounts Receivable 95000 80000
Allowance for Doubtful Accounts (4500) (3100)
Inventory 145000 175000
Prepaid Expenses 7500 6800
Land 100000 60000
Buildings 287000 244000
Accumulated Depreciation (35000) (13000)
Patents 20000 35000
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715000 611700
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Accounts Payable 90000 84000
Accrued Liabilities 54000 63000
Bonds Payable 135000 60000
Common Stock 100000 100000
Retained Earnings 351000 312700
Treasury Stock, at cost (15000) (8000)
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715000 611700
Additional Info
Net Income 63300
Depreciation Expense 22000
Amortization of patents 5000
Patents were sold for 14000
Prepare a statement of cash flows for Prince Corporation for the year 2004 (use indirect method)
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