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Prepare a statement of cash flows for sondergaard

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Problem - Preparation of a Statement of Cash Flows

Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.

2010 2009

Cash $157,000 $78,000

Accounts receivable 180,000 185,000

Investments 52,000 74,000

Equipment 298,000 240,000

Less: Accumulated depreciation (106,000) (89,000)

Current liabilities 134,000 151,000

Capital stock 160,000 160,000

Retained earnings 287,000 177,000

Additional information: Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000 and net income was $160,000.

(a) Prepare a statement of cash flows for 2010 for Sondergaard Corporation.

Reference no: EM131829441

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