Cash Flow Assignment 
     
Instuctions: Complete the statement of cash flows for 2014 using the indirect  method
Here is a comparative balance sheet for Joe Company
 
JOE COMPANY
Comparative Balance Sheet
31-Dec
Assets 2014 2013
Cash  $     68,000.00  $                    22,000.00
Accounts receivable  $     85,000.00  $                    76,000.00
Inventories  $  1,70,000.00  $                 1,89,000.00
Land  $     80,000.00  $                 1,00,000.00
Equipment  $  2,60,000.00  $                 2,00,000.00
Accumulated Depreciation  $    (66,000.00)  $                  (32,000.00)
Total  $  5,97,000.00  $                 5,55,000.00
     
Liabilities and Stockholders’ equity    
Accounts payable  $     39,000.00  $                    47,000.00
Bonds payable  $  1,50,000.00  $                 2,00,000.00
Common stock ($1 par)  $  2,16,000.00  $                 1,74,000.00
Retained earnings  $  1,92,000.00  $                 1,34,000.00
Total  $  5,97,000.00  $                 5,55,000.00
 
Additional information:
1. Net income for 2014 was $93,000.
2. Cash dividends of $35,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2014.

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