Reference no: EM131831507

Problem - Selected financial statement information and additional data for Santaclaus Co. is presented below.

12/31/2011 12/31/2012

Cash $42,000 $75,000

Accounts receivable (net) 84,000 144,200

Inventory 168,000 201,600

Land 58,800 16,000

Equipment 504,000 789,600

TOTAL $856,800 $1,226,400

Accumulated depreciation $84,000 $115,600

Accounts payable 50,400 86,000

Notes payable - Short-term 67,200 29,400

Notes payable - Long-term 168,000 302,400

Common stock 420,000 487,200

Retained earnings 67,200 205,800

TOTAL $856,800 $1,226,400

Additional data for 2012:

1. Net income was $240,200.

2. Depreciation was $31,600.

3. Land was sold at its original cost.

4. Dividends of $101,600 were paid.

5. Equipment was purchased for $84,000 cash.

6. A long-term note for $201,600 was used to pay for an equipment purchase.

7. Common stock was issued to pay a $67,200 long-term note payable.

Instructions: Prepare a statement of cash flows for the year ending December 31, 2012.