Worksheet and statement of cash flows

Using given information, prepare a worksheet for statement of cash flows/statement of cash flows.

SATELLITE 2010
Worksheet for a Statement of Cash Flows
For the Year Ended December 31, 2005

Effects of Transactions
Balance sheet effects: Beginning Debit Credit Ending
Balance Changes Changes Balance
Assets
Cash and cash equivalents (x)
Accounts receivable (3)
Plant and equipment (net of
accumulated depreciation) (6) (2)
Totals

Liabilities & Stockholders' Equity
Note payable (short-term) (7)
Accounts payable (4)
Accrued expenses payable (5)
Notes payable (long-term) (6)
Capital stock (no par value) (8)
Retained earnings (1)
Totals

Cash effects: Sources Uses
Operating activities:
Net income (1)
Depreciation (2)
Increase in accounts receivable (3)
Increase in accounts payable (4)
Decrease in accrued expenses
payable (5)
Investing activities:
Cash paid for plant assets (6)
Financing activities:
Short-term borrowing (7)
Issuance of capital stock (8)
Subtotals
Net decrease in cash (x)
Totals

Profit earned in 2004 $115,000

SATELLITE 2010
Comparative Balance Sheets
December 31,
2004 2005

Assets
Cash and cash equivalents $80,000 $37,000
Accounts receivable 100,000 850,000
Plant and equipment (net of accumulated depreciation) 600,000 2,653,000
Totals $780,000 $3,540,000

Liabilities & Stockholders' Equity
Note payable (short-term) $- $1,450,000
Accounts payable 30,000 63,000
Accrued expenses payable 45,000 32,000
Notes payable (long-term) 390,000 740,000
Capital stock (no par value) 200,000 700,000
Retained earnings 115,000 555,000
Totals $780,000 $3,540,000

Additional information for 2005:
Net income $440,000
Depreciation 147,000
Cost of plant assets purchased 2,200,000
Cash paid for plant assets 1,850,000
Long-term note payable issued for plant assets 350,000
Borrowed on line of credit (short-term notes payable) 1,450,000
Capital stock issued (no par value) for cash 500,000