Question - comparative balance sheets for alpha company


Question - Comparative balance sheets for Alpha Company.

ALPHA COMPANY Comparative Balance Sheets December 31

Assets 2014 2013

Cash $72,710 $22,001

Accounts receivable 85,652 76,161

Inventories 169,800 188,601

Land 75,070 100,300

Equipment 259,540  200,580

Accumulated depreciation (65,861) (32,198)

Total $596,911 $555,445

Liabilities and Stockholders' Equity

Accounts payable $39,209 $46,636

Bonds payable 151,530 203,230

Common stock ($1 par) 214,140 175,750

Retained earnings 192,032 129,829

Total $596,911 $555,445

Additional information:

1. Net income for 2014 was $101,690, depreciation was $33,663.

2. Cash dividends of $39,487 were declared and paid.

3. Bonds payable amounting to $51,700 were redeemed for cash $51,700.

4. Common stock was issued for $38,390 cash.

5. Land was sold for $25,230 cash, there was no loss.

6. Equipment was purchased for $58,960 cash.

Instructions - Statement of cash flows for 2014 using the indirect method.

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