Comparative balance sheets for Cincinnati Health Club are presented below.

Additional information:
a. Cincinnati Health Club reported net income of $2,700 for 2009.
b. No buildings nor equipment were sold during 2009. Equipment was purchased for $10,000 cash.
c. Depreciation expense for 2009 was $28,000.
d. Bonds payable of $50,000 were issued for cash during 2009.
e. Common stock of $30,000 was issued during 2009.
f. Cash dividends of $10,000 were declared and paid during 2009.

Required:
Using a spreadsheet, prepare a statement of cash flows for 2009. Assume Cincinnati Health Club uses the indirectmethod.

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Cincinnati Health Club Balance Sheets December 31, 2009 and 2008 ASSETS 2009 2008 Current assets: $ 5,300 10,500 19,800 $35,600 $ 9,200 8,900 18,600 $ 36,700 Cash Accounts receivable Total current assets Property, plant, and equipment: $490,000 280,000 $770,000 (148,000) $490,000 270,000 $760,000 Building Equipment Accumulated depreciation equipment Net property, plant, and 640000 $676,700 Total assets $657,600 LIABILITIES AND EQUITY Current liabilities Accounts payable Salaries payable Income taxes payable $55,300 9,500 1,100 2 $ 36,100 11,700 9,900 Total current liabilities $65,900 $ 57,700 Long-term liabilities Bonds payable 350,000 $415,900 400,000 Total liabilities Common stock 180,000 61,700 $150,000 69,000 Retained earnings 241,700 $657,600 3 219,000 76,700 8 Total liabilities and equity