Problem:
Can you help me get started with this assignment?
.............................December 31
........................2008.......2007
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
Accumuladed Depreciation (32,000) (13,000)
paterns....................20,000......35,000
Tatal assets..............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.........351,000......312,700
Treasury Stock, at cost.....(15,000)...(8,000)
Total Liabilities and Equity...705,000...611,700
.............................for 2008 year
Net income......................58,300
Depreciation Expense ............19,000
Amortization of Paterns...........5,000
Cash devedents declared and paid..20,000
Gain or Loss on sale of Patents .. none
Prepare a statement of cash flows for Reyser Corporation for the year 2008. Use the indirect method.