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5. The following information is available for the Ehrens Corporation. Use this information to prepare the Statement of Cash Flow-For the Operating section use the
5. The following information is available for the Ehrens Corporation. Use this information to prepare the Statement of Cash Flow-For the Operating section use the Indirect Mcthod. Be sure to complete the entire Statement of Cash Flow EHRENS CORPORATION Balance Sheets At December 31 2013 2012 Assets Cash Accounts receivable Merchandise inventory Long-term investments $ 24,640 32,180 23,040 29.400 61,710 56,400 145,500 55,900 175,500 ccumulated depreciation Total assets Liabilities: S 65,000 Incomes taxes payable Bonds payable 10,200 10,725 $124,475 117,000 Total liabilities 116,580 Common stock Contributed capital in excess of pay Retained earnings 96,000 9,000 63,270 168,270 13,000 Total equity Total liabilities and equity EHRENS CORPORATION Income Statement For Year Ended December 31,2013 240,000 Cost of goods sold Depreciation expense Other operating Interest expense $80,900 29,400 48,000 2,000 Other gains (losses)y Loss on sale of equipment Income before taxes Income taxes expense Net income 71,300 Additional information (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired (2) Old equipment with an original cost of $37,550 was sold for $2,100 cash (3) New equipment was purchased for $67,350 cash. (4) Cash dividends of $33,600 were paid (5) Additional shares of stock were issued for cash. Instructions: Prepare the statement of cash flows for the 2013 calendar year using the indirect method by filling in the following worksheet
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