10 minutes please

Question 3 [30 points) Use the Holden Corp. financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2014, using the Indirect method Additional Information a Purchased machinery for $31,000 cash b Sold the long term investment on January 1, 2014 for $51.000 Sold machinery for $15,000 cash that had originally cost $45,500 and had $30.500 of accumulated depreciation d. Issued $53,000 of bonds payable at face value e The short-term investment is a treasury bill that was purchased with maturity in 90 days Holden Corp Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 206 200 190,000 Short-term investments 149.000 139,000 Accounts receivable 33.700 20.000 Merchandise inventory 138 900 97,000 Long term investment 0 27.000 Machinery 215 500 230,000 Accumulated depreciation (150 500 (155,000 Total assets 662,800 540.000 select one Statement of Cash Flows Iselect one) Cash flows from operating activities Adjust to reconcile net income to cash provided by operact Cash flows from investing actities Cash flows from financing activities Liabilities and Equity Accounts payable Dividends payable Bonds payable Share capital Retained ning Total abilities and equity 29.000 23,000 63.000 285.000 272.000 662 800 57.000 39,000 0 285,000 167.000 548,000 Net increase (decrease) in cash Cash at beginning of year Cathat end of you (select one) Statement of Cash Flows (select one) Cash flows from operating activities Holden Corp Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 286,200 190.000 Short-term investments 149,000 139,000 Accounts receivable 33,700 20.000 Merchandise inventory 138,900 97,000 Long term investment 0 27,000 Machinery 215.500 230,000 Accumulated depreciation (160,500) (155,000) Total assets 662,800 548,000 Adjust to reconcile net income to cash provided by opet. act.: Cash flows from investing activities X + Cash flows from financing activities Liabilities and Equity Accounts payable Dividends payable Bonds payable Share capital Retained earnings Total liabilities and equity 29,800 23,000 53,000 285,000 272,000 662.800 57 000 39,000 0 285.000 167,000 548.000 Not increase (decrease in cash Cash at beginning of year Cash at end of year 760,000 Holden Corp Income Statement For Year Ended December 31, 2014 Sales Cost Of Goods Sold 610,000 Depreciation expense 36,000 Other expenses 33,000 Gain on sale of long-term investment Net income (679,000) 24,000 105,000