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A comparative balance sheet for lyon company appears below

Question - A comparative balance sheet for Lyon Company appears below:

Additional Information -

1. Net income for the year ending December 31, 2008 was $24,000.

2. Cash dividends of $12,000 were declared and paid during the year.

3. Long-term investments that had a cost of $18,000 were sold for $16,000.

4. Sales for 2008 were $120,000.

Required - Prepare a statement of cash flows for the year ended December 31, 2008, using the indirect method.

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Accounting Basics: A comparative balance sheet for lyon company appears below

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