Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.
2012
2011
Cash $371,305 $184,470
Accounts receivable 425,700 437,525
Investments 122,980 175,010
Equipment 704,770 567,600
Less: Accumulated depreciation—equipment (250,690 ) (210,485 )
Current liabilities 316,910 357,115
Capital stock 378,400 378,400
Retained earnings 678,755 418,605
Additional information:
Investments were sold at a loss (not extraordinary) of $16,555; no equipment was sold; cash dividends paid were $118,250; and net income was $378,400.
(a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation.
Asked Nov 15, 2013
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