Statement of cash flows for the year ended December 31, 200
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Prepare a statement of cash flows for the year ended December 31, 2005, using the indirect method.
Please see the attached Balance Sheet, Please ass the additional information to the Balance Sheet.
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Response provides the steps to prepare the statement of cash flows using the indirect method.
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1. The comparative balance sheets for Kohl Company appear below:
KOHL COMPANY
Comparative Balance Sheet
Dec. 31, 2005 Dec. 31, 2004
Assets
Cash $23,000 $12,000
Accounts receivable 18,000 14,000
Prepaid expenses 6,000 9,000
Inventory 27,000 18,000
Land 0 18000
Equipment 60,000 30,000
Accumulated depreciation-equipment -18,000 -14,000
Total assets $116,000 $87,000
Liabilities and Stockholders' Equity
Accounts payable $21,000 $9,000
Bonds ...
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