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A comparative balance sheet for Beaver Company appears below: BEAVER COMPANY Comparative Balance Sheet Dec. 31, 2012 Dec. 31, 2011 Assets Cash $ 33,000 $10,000
A comparative balance sheet for Beaver Company appears below: BEAVER COMPANY Comparative Balance Sheet Dec. 31, 2012 Dec. 31, 2011 Assets Cash $ 33,000 $10,000 Accounts receivable 18,000 14,000 Inventory 25,000 18,000 Prepaid expenses 6,000 9,000 Long-term investments -0- 18,000 Equipment 60,000 32,000 Accumulated depreciationequipment (20,000) (14,000) Total assets $122,000 $87,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 $ 7,000 Bonds payable 37,000 47,000 Common stock 40,000 23,000 Retained earnings 28,000 10,000 Total liabilities and stockholders' equity $122,000 $87,000 Additional information: 1. Net income for the year ending December 31, 2012 was $33,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $18,000 were sold for $14,000. 4. Sales for 2012 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method
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