A  Boscia Corporations balance sheet appears below:

Comparative Balance Sheet

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Ending Balance

Beginning Balance

Assets:

       

Cash and cash equivalents

44

 

38

 

Accounts receivable

82

 

69

 

Inventory

71

 

69

 

plant and equipment

537

 

500

 

Accumulated depreciation

-240

 

-201

 

Total assets

494

 

475

 

 

Liabilities and stockholders’ equity:

Accounts payable

70

 

60

Wages payable

24

 

21

Taxes payable

19

 

22

Bonds payable

226

 

300

Deferred taxes

19

 

18

Common stock

22

 

20

Retained earnings

114

 

34

Total liabilities and stockhol

494

 

475

 The net income for the year was $108. Cash dividends were $28.

 Required:

 

Prepare a statement of cash flows in good form using the indirect method. 

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