Question:
The information given below, Evaluate the statement of cash flows for the Decker Uniform Co.
Decker Uniform Co.
Comparative Balance Sheet
For the Year Ended December 31, 2012
2012 2011
Assets
Cash 140,000 160,000
Accounts Receivables 400,000 380,000
Inventory 480,000 420,000
Fixed Assets (net of accumulated Depreciation) 1,860,000 1,720,000
Less: Accumulated Depreciation (1,000,000) (900,000)
Total 1,880,000 1,780,000
Liabilities & Owner's Equity
Accounts Payable 240,000 260,000
Accrued expense 120,000 100,000
Bonds Payable 780,000 720,000
Capital Stock 420,000 420,000
Retained Earnings 320,000 280,000
Total 1,880,000 1,780,000
Additional Information:
1. Total income for the year amounted to $60,000, and cash dividends were declared and paid in the amount of $20,000.
2. Decker Uniform Co.'s only noncash expense was depreciation Expense which totaled $100,000.
3. The company purchased plant assets for $140,000.
4. Bonds payable in the amount of $60,000 were issued during the year.