(Worksheet Preparation) Below is the comparative balance sheet for Stevie Wonder Corporation.

Dividends in the amount of $15,000 were declared and paid in 2008.

Instructions From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available-for-sale and no unrealized gains or losses have occurred on these securities.

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Dec. 31, 2008 Dec. 31, 2007 Cash Short-term investments Accounts receivable Allowance for doubtful accounts Prepaid expenses $ 16,500 $ 21,000 25,000 19,000 43,000 45,000 (1,800) (2,000) 4,200 2,500 Inventories 81,500 65,000 Land 50,000 50,000 Buildings 125,000 73,500 Accumulated depreciation-buildings (30,000) (23,000) Equipment 53,000 46,000 Accumulated depreciation-equipment (19,000) (15,500) Delivery equipment 39,000 39,000 Accumulated depreciation-delivery equipment (22,000) (20,500) Patents 15,000 -0- $379,400 $300,000