Solution-Statement of cash flows of odgers inc

Statement of cash flows of odgers inc

Reference no: EM13833669

Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets	2014		2013
Cash	$ 151,096		$ 90,508
Accounts receivable	164,186		71,060
Inventory	210,375		192,330
Prepaid expenses	53,108		48,620
Long-term investments	258,060		203,830
Plant assets	532,950		453,475
Accumulated depreciation	(93,500	)	(97,240	)
Total	$1,276,275		$962,583

Liabilities and Stockholders' Equity
Accounts payable	$ 190,740		$ 125,851
Accrued expenses payable	30,855		39,270
Bonds payable	205,700		273,020
Common stock	411,400		327,250
Retained earnings	437,580		197,192
Total	$1,276,275		$962,583

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue		$726,420
Less:
Cost of goods sold	$253,310
Operating expenses, excluding depreciation	23,207
Depreciation expense	86,955
Income tax expense	51,014
Interest expense	8,845
Loss on disposal of plant assets	14,025	437,356
Net income		$ 289,064

Additional information:

1. New plant assets costing $187,000 were purchased for cash during the year.

2. Old plant assets having an original cost of $107,525 and accumulated depreciation of $90,695 were sold for $2,805 cash.

3. Bonds payable matured and were paid off at face value for cash.

4. A cash dividend of $48,676 was declared and paid during the year.

Required:

Make a Statement of Cash Flows For the Year Ended December 31, 2014

Reference no: EM13833669

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Statement of cash flows of odgers inc

Reference no: EM13833669

Reference no: EM13833669

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