Problem - Prepare Statement of Cash Flows for Senoro Co. for period ending Dec 31
Comparative Balance Sheet
|
Assets
|
2011
|
2010
|
|
Cash
|
316000
|
169000
|
|
Accounts Receivable
|
80000
|
66000
|
|
Inventory
|
150000
|
135000
|
|
Prepaid Insurance
|
6000
|
12000
|
|
Buildings
|
250000
|
200000
|
|
Equipment
|
550000
|
450000
|
|
Accumulated Depreciation
|
(80000)
|
(110000)
|
|
1272000
|
532000
|
|
Liabilities and Stockholders Equity
|
2011
|
2010
|
|
Accounts Payable
|
22000
|
12000
|
|
Bonds Payable
|
100000
|
100000
|
|
Common Stock (1$ par)
|
700000
|
550000
|
|
Retained Earnings
|
450000
|
260000
|
Additional information:
1. Net income for 2011 is $215000.
2. Depreciation Expense for 2011 is $30000.
3. Senoro sold equipment which cost 75000 and had accumulated depreciation at 25000 cash. The sale resulted in a 10000 gain.
4. Purchase building for 50000 cash.
5. Purchase equipment for 175000 cash.
6. Issued $1 par Common Stock for 150000 cash.
7. Paid Cash Dividends in 2011 of 25000.