Here are comparative statements of financial position for Syal Company.

Syal Company
Comparative Statements of Financial Position
December 31

Additional information: 
1. Net income for 2014 was $103,000.
2. Depreciation expense was $32,000.
3. Cash dividends of $45,000 were declared and paid.
4. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
5. Ordinary shares were issued for $42,000 cash.
6. No equipment was sold during 2014.
7. Land was sold for its book value of $27,000.

Instructions 
Prepare a statement of cash flows for 2014 using the indirect method.

Transcribed Image Text:

2013 Assets 2014 $ 73,000 260,000 (66,000) 170,000 85,000 $100,000 200,000 (34,000) Land Equipment Accumulated depreciation-equipment Inventory Accounts receivable Cash 187,000 71,000 33,000 73,000 $595,000 $557,000 Total Equity and Liabilities Share capital-ordinary ($1 par) Retained earnings Bonds payable Accounts payable $174,000 136,000 200,000 $216,000 194,000 150,000 35,000 47,000 Total $595,000 $557,000