Additional Information Continued... Bonds of $30,000 were issued. $40,000 of Common Stock was issued

Instructions: Please prepare a proper Statement of Cash Flows for Jhutti Company using the Indirect Method in either Word or Excel. Handwritten copies will not be accepted!

Jhutti Company comparative Balance Sheets December 31 Assets 2014 Cash 90,300 80,900 Accounts receivable Inventory 121,900 Investments 84,000 Equipment 250,000 Accumulated depreciation equipment (46,600) $580,500 Liabilities and Stockholders' Equi 53,400 Accounts payable 12,100 Accrued expenses payable Bonds payable 100,000 Common stock 240,000 Retained earnings 175,000 $580,500 Jhutti Company Income Statement For the Year Ended December 31, 2014 Sales revenue $297,500 Gain on disposal of plant assets 8,550 Less Cost of goods sold 99,460 Operating expenses (excluding depreciation expense) 14,670 47,900 Depreciation expense Income tax expense 7.270 Interest expense 2.940 Net income 2013 47,250 57,000 102,650 87,000 205,000 (40,000) $458,900 48,280 18,830 70,000 200,000 121.790 $458,900 $306,050 172,240 $133,810