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Additional information: Net income for 2010 was $143,000. Issued a long-term note payable in exchange for computer equipment for $130,000. Purchased computer terminals for $90,000.

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Additional information:

Net income for 2010 was $143,000.

Issued a long-term note payable in exchange for computer equipment for $130,000.

Purchased computer terminals for $90,000.

Depreciation on equipment for 2010 was $40,000.

Depreciation on building for 2010 was $20,000.

Reacquired bonds payable at par for $290,000.

Declared and paid dividends of $75,000.

Issued 20,000 shares of common stock at par value of $10 per share.

Paid $50,000 for land intended for a new plant site.

Prepare a statement of cash flows using the indirect method. Include a schedule of noncash investing and financing transactions, if applicable

12. The following information relates to Aires Corporation for 2010 and 2009: 2010 $ 21,000 421,000 310,000 17,000 80,000 350,000 680,000 520,000 $2.399.000 2009 $ 54,000 480,000 340,000 15,000 80,000 300,000 700,000 340,000 $2.309.000 Assets Cash Accounts receivable (net) Inventory Prepaid expenses Investments Land Building (net) Equipment (net) Total assets Liabilities Accounts payable Accrued liabilities Income taxes payable Bonds payable Long-term note payable Total liabilities Stockholders' Equity Common stock Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 328,000 $ 335,000 171,000 170,000 22,000 34,000 410,000 700,000 130,000 0 $1,061,000 $1,239,000 $ 800,000 152,000 386,000 $1.338.000 $2.399,000 $ 600,000 152,000 318,000 $1.070,000 $2.309,000

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