Presented below are data taken from the records of Alee Company.

Additional information:
1. Held-to-maturity securities carried at a cost of $43,000 on December 31, 2013, were sold in 2014 for $34,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.
2. Plant assets that cost $50,000 and were 80% depreciated were sold during 2014 for $8,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.
3. Net income as reported on the income statement for the year was $57,000.
4. Dividends paid amounted to $10,000.
5. Depreciation charged for the year was $20,000.

Instructions
Prepare a statement of cash flows for the year 2014 using the indirectmethod.

Transcribed Image Text:

December 31, 2014 $ 15,000 Cash Current assets other than cash Long-term investments Plant assets December 31, 2013 $8,000 60,000 53,000 215,000 S336,000 85,000 10,000 335,000 $445,000 Accumulated depreciation Current liabilities Bonds payable Capital stock Retained earnings S 20,000 40,000 75,000 254,000 56,000 $40,000 22,000 0- 254,000 20,000 S336,000 $445,000