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    Statement of cash flows and a balance sheet- Chekov Corporation

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    Please help me with this problem so I can work through this. Please put in excel and give explanations so I can understand better.
    Thanks!

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    Chekov Corporation's balance sheet at the end of 2009 included the following items.
    Current assets $235,000
    Land 30,000
    Building 120,000
    Equipment 90,000
    Accum. Depr.-building (30,000)
    Accum. Depr.-equipment (11,000)
    Patents 40,000
    Total $474,000

    Current liabilities $150,000
    Bonds payable 100,000
    Common stock 180,000
    Retained earnings 44,000
    Total $474,000

    The following information is available for 2010
    1. Net income was $55,000
    2. Equipment (cost $20,000 and accumulated depreciation $8,000) was sold for $9,000.
    3. Depreciation expense was $4,000 on the building and $9,000 on equipment.
    4. Patent amortization was $2,500.
    5. Current assets other than cash increased by $25,000. Current liabilities increased by $13,000.
    6. An addition to the building was completed at a cost of $27,000.
    7. A long-term investment in stock was purchased for $16,000.
    8. Bonds payable of $50,000 were issued.
    9. Cash dividends of $25,000 were declared and paid.
    10. Treasury stock was purchased at a cost of $11,000.

    Instructions
    (Show only totals of current assets and current liabilities)
    a. Prepare a statement of cash flows for 2010.
    b. Prepare a balance sheet at December 31, 2010.

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    The statement of cash flows and a balance sheet for Chekov Corporation.

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