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 |
|
$199,547 |
|
|
$99,138 |
|
| Accounts receivable |
|
228,780 |
|
|
235,135 |
|
| Investments |
|
66,092 |
|
|
94,054 |
|
| Equipment |
|
378,758 |
|
|
305,040 |
|
| Less: Accumulated depreciation%u2014equipment |
|
(134,726 |
) |
|
(113,119 |
) |
| Current liabilities |
|
170,314 |
|
|
191,921 |
|
| Capital stock |
|
203,360 |
|
|
203,360 |
|
| Retained earnings |
|
364,777 |
|
|
224,967 |
|
Additional information:
Investments were sold at a loss (not extraordinary) of $8,897; no equipment was sold; cash dividends paid were $63,550; and net income was $203,360.
(a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation.