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Statement of cash flow financials

The following information is taken from French Corporation's financial statements:
December 31
2011 2010
Cash $90,000 $ 27,000
Accounts Receivable 92,000 80,000
Allowance for Doubtful Accounts ( 4,500) ( 3,100)
Inventory 155,000 175,000
Prepaid Expenses 7,500 6,800
Land 90,000 60,000
Buildings 287,000 244,000
Accumulated Depreciation ( 32,000) (13,000)
Patents 20,000 35,000
Total Assets $705,000 $611,700

Accounts Payable $ 90,000 $ 84,000
Accrued Liabilities 54,000 63,000
Bonds Payable 125,000 60,000
Common Stock 100,000 100,000
Retained Earnings - Appropriated 80,000 100,000
Retained Earnings - Unappropriated 271,000 212,700
Treasury Stock, at cost (15,000) ( 8,000)

Total Liabilities and Equity $705,000 $611,700

For 2011 Year
Net Income $58,300
Depreciation Expense 19,000
Amortization of Patents 5,000
Cash dividends declared and paid 20,000
Gain or Loss on Sale of Patents none
Instructions
Prepare a statement of cash flows for French Corporation for the year 2011. (Use the indirect method.)

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Solution Summary

Statements of cash flows are examined.

$2.19