21-24
Complete Statement of Cash Flows
Below are balance sheet and income statement data for Blue Panel Corporation. (Note: For the balance sheet data, the end of year information is in the left column)
				Balance Sheet
							2015	2014
Cash							$ 8,261	$ 1,506
Investment Securities (available for sale)							$ 300	$ 250
Accounts Recievable							$ 2,200	$ 1,365
Paid-In Capital							$ 7,200	$ 6,000
Inventory							$ 4,874	$ 5,168
Prepaid selling and administrative expenses							$ 208	$ 224
Retained Earnings (deficit)							$ 8,768	$ (2,042)
Accumulated Depreciation							$ 3,200	$ 2,780
Accounts Payable							$ 370	$ 450
Unearned Revenue							$ 110	$ 170
Income taxes payable							$ 78	$ 54
Other long-term liabilities							$ 90	$ 185
Property, plant and equipment							$ 12,000	$ 8,400
Long-term debt							$ 7,952	$ 9,816
Accumulated other comprehensive income (credit balance)							$ 50	$ -
Intagible Assets							$ 375	$ 500
				Income Statement (for 2015)
Sales								$ 57,860
Cost of Goods Sold							$ 32,600
Loss on sale of property, plant and equipment							$ 80
Selling and administrative expenses							$ 6,550
Amortization expense							$ 125
Depreciation expense							$ 2,355
Income tax expense							$ 2,400
	Total expenses and losses							$ 44,110
Net Income								$ 13,750
Additional Information for Blue Panel Corporation is as follows:
a. Property, plant and equipment with an original historical cost of $2100 was sold during 2015
b. All accounts payable relate to inventory purchases.
c. The "Other long-term liabilities" term is Blue Panel's pension liability. Pension Expense is reported as part
of selling and administrative expenses.
d. During 2015, Blue Panel issued shares of common stock to an investory in exchange for property, plant
and equipment valued at $800.
e. The accumulated other comprehensive income relates solely to the available-for-sale investment
securities.
Prepare a complete statement of cash flows for 2015 for Blue Panel Corporation. Use the direct method for
reporting cash flows from operating activities.