The following information is taken from Miller Corporation's financial statements:
December 31
2010 2009
Cash $90,000 $ 27,000
Accounts receivable 92,000 80,000
Allowance for doubtful accounts (4,500) (3,100)
Inventory 155,000 175,000
Prepaid expenses 7,500 6,800
Land 90,000 60,000
Buildings 287,000 244,000
Accumulated depreciation (32,000) (13,000)
Patents 20,000 35,000
$705,000 $611,700
Accounts payable $ 90,000 $ 84,000
Accrued liabilities 54,000 63,000
Bonds payable 125,000 60,000
Common stock 100,000 100,000
Retained earnings-appropriated 80,000 10,000
Retained earnings-unappropriated 271,000 302,700
Treasury stock, at cost (15,000) (8,000)
$705,000 $611,700
For 2010 Year
Net income $58,300
Depreciation expense 19,000
Amortization of patents 5,000
Cash dividends declared and paid 20,000
Gain or loss on sale of patents none
Instructions
Prepare a statement of cash flows for Miller Corporation for the year 2010. (Use the indirect method.)