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ALMA COMPANY Comparative Statement of Financial Position, December 31, Assets 2009 2010 Non-current assets Property, plant and equipment (net) $350,000 $385,000 Current assets Inventory 60,000

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ALMA COMPANY Comparative Statement of Financial Position, December 31, Assets 2009 2010 Non-current assets Property, plant and equipment (net) $350,000 $385,000 Current assets Inventory 60,000 70,000 Accounts receivable (net) 105,000 115,000 Cash 25,000 Total assets 540,000 570,000 Stockholders' equity and liabilities Equity Share capital 150,000 150,000 Retained earnings 165,000 100,000 Non-current liabilities Bonds (long-term) 140,000 160,000 Current liabilities Accounts payable 85,000 120,000 Tax payable 0 10,000 Interest payable.. 0 5,000 Bank Overdraft 25,000 Total liabilities and stockholders' equity S 540.000 $ 570.000 ALMA COMPANY; Income Statement: For the Year Ended December 31 2009 Net sales $400,000 $ 440,000 Cost of goods sold (240,000) (280,000 2010 Gross profit Selling expenses Administrative expenses. Operating income Interest expense Income before income taxes Income tax expense Net income 160,000 (28,000) (24,000) 108,000 (18.000 90,000 127.000) 63.000 160,000 (29,000) 125.000) 106,000 (31.000 75,000 (25.500) $ 49.500 Additional information: 1. During 2010 the company acquired property, plant and equipment costing $ 50,000. There were no other non-current asset acquisitions or disposals. 2. During 2010 the company incurred depreciation expense on equipment and made some cash dividends. Required. Prepare the statement of cash flows for Alma Company for the year ended 31 December 2010 using the indirect method

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