Alternate problem B The following information relates to Dunwoody Nursery & Garden Center, Inc. The company cases a building adjacent to its land Dunwoody Nursery & Garden Center, Inc. Comparative Balance Sheets 2011 December 31 and 2010 2011 2010 Assets Cash $44,500 $ 52,000 Accounts receivable, et 59,000 60,000 Merchandue inventory 175.000 120,000 Equipment 412.500 315.000 Accumulated depreciation - egotent (120,000) 105,000 Accumulated depreciation - equipment (120,000) (105,000) Land 75,000 15,000 Total assets $646,000 $457.000 Liabilities and stockholders' equity Accounts payable $ 43.750 $40,750 Accrued liabilities payable 2.250 3.750 Capital stock-common-S10 par 375,000 300,000 Paid-in capital in excess of par 150,000 75.000 Accounts payable $ 43,750 $40,750 Accrued liabilities payable 2.250 3,750 Capital stock -common - $10 par 375,000 300,000 Paid-in capital in excess of pa 150,000 75.000 Retained 75,000 37.500 Total liabilities and stockholders equity 5616,000 5457.000 Net income was 597.500 for the year. Fully depreciated equipment conting 5 15.000 was sold for $ 3.750 (a gain of S 3.750) ad equipment conting $ 112.500 was placase! for cash Depreciation expense for the year was 5 30,000, Land was purchased. S 60.000 An additional 7.500 shares of common stock were issued for cash at $ 20 per lure (total proceeds $ 130.000). Cal dividends of $ 60.000 were declared and paid Prepare a statement of cash flows under the indirect method Alternate problem B The following information relates to Dunwoody Nursery & Garden Center, Inc. The company cases a building adjacent to its land Dunwoody Nursery & Garden Center, Inc. Comparative Balance Sheets 2011 December 31 and 2010 2011 2010 Assets Cash $44,500 $ 52,000 Accounts receivable, et 59.000 60,000 Merchandue inventory 175,000 120,000 Equipment 412.500 315.000 Accumulated depreciation - Goient 120.000 (105.000 Accumulated depreciation - equipment (120,000) (105,000) Land 75,000 15.000 Total assets $646.000 $457.000 Liabilities and stockholders' equity Accounts payable $ 43,750 $40,750 Accrued liabilities payable 2.250 3.750 Capital stock - common-S10 par 375,000 300,000 Pald-in capital in excess of par 150,000 15,000 Accounts payable $ 43,750 $40,750 Accrued liabilities payable 2,250 3,750 Capital stock - common - 510 par 375,000 300,000 Paid in capital in excess of par 150,000 75.000 Retained earning 75,000 37.500 Total abdities and stockholders equity 5616.000 5457.000 Net income was $ 97.500 for the year Fully depreciated equipment conting $ 15.000 was sold for $ 3.780 (a grit of 3.750) and equipment costing 112.500. was purchased for cash Depreciation expense for the year was 5 30,000 Land was purchased 560,000 An additional 7.500 shares of common vock were isted for cash at 520 per share total proceeds $ 150.000) Cal dividends of $60.000 were declined and paid Prepare a statement of cash flows under the induct method