193 Statement of Cash Flows CHAPTER 4 4.9. Condensed financial statements for Dragoon Enterprises follow. (a) Calculate the amount of dividends Dragoon paid using the information given. (b) Prepare a statement of cash flows using the indirect method. Dragoon Enterprises Comparative Balance Sheets December 31, 2015 and 2014 2014 2015 Cash $1,200 $850 1,750 1,250 1,200 1,360 Accounts receivable Inventory Plant and equipment Accumulated depreciation Long-term investments 4,600 3,900 (1,200) (1,100) 970 1,110 7320 Total Assets 8,570 Accounts payable Accrued wages payable Interest payable Income tax payable Bonds payable Capital stock Paid-in capital Retained earnings Total Liabilities and Equity 1,100 800 250 350 70 120 200 50 1,100 1,400 1,000 930 70 400 4,450 3,600 $8,570 $7,320 Income Statement for Year Ended December 31, 2015 $9,500 Sales Cost of goods sold Gross profit Other expenses Selling and administrative Depreciation Interest 6,650 2,850 1,200 100 150 Income tax 350 Net income $1,050