An examination of the income statement and the accounting records revealed the following additional information applicable to the current year:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $75,000 cash.
4. The common stock was issued for cash.
5. Net income was $76,750.
6. Cash dividends declared were $45,000.

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REQUIRED: Using the form provided below, prepare a statement of cash flow using the indirect method. Present your answers in the exact same format as below describing each section and sub-section.

REQUIRED: Using the form provided below, prepare a statement of cash flow using the indirect method. Present your answers in the exact same format as below describing each section and sub-section.

Cash Flows From Operating Activities:

Net Income(loss)

Items Affecting Net Income But Not Cash:

Add:

Add:

Add:

Deduct:

Current Assets & Current Liabilities:

Add: Increase in

Add: Increase in

Add: Decrease in

Add: Decrease in

Deduct: Increase in

Deduct: Increase in

Deduct: Decrease in

Deduct: Decrease in__________________________

Net Cash______(Flow or Used)From Operating Activities-----------------

Cash Flows From Investing Activities:

Add: Sale of

Add: Sale of

Deduct: Purchase of

Deduct: _Purchase of_______________________________________________

Net Cash_________(Flow or Used) From Investing Activities-----------------------------

Cash Flows from Financing Activities:

Add: Issuance of

Add: Issuance of

Add: Issuance of

Deduct: Retirement of

Deduct: Payment of

Deduct:_Payment of_______________________________________

Net Cash_________(Flow or Used) From Financing Activities-----------------------------

Net Increase (Decrease) In Cash______________

Useful Only in the Current Asset-Current Liability Section

Current Assets* Current Liabilities**

Increase Deduct: the increase Add: the increase to

from net income net income

Decrease Add: the decrease Deduct: the decrease

to net income from net income

* Except: ** Except

Notes Receivable Notes Payable

Dividends Payable

The comparative balance sheet for Astro Company for the current year and the preceding year are presented below: Current Year Preceding Year Assets Cash--- Accounts receivable (net) Inventories-- Investments Land---- Equipment- Accumulated depreciation- Total Assets $ 64,200 91,500 105,900 0 85,000 355,000 (149,000) $552,600 $ 49,900 80,000 90,500 75,000 0 275,000 (119,000) $451,400 Liabilities and Stockholder's Equity Accounts payable- $ 62,450 Dividends payable-- 12,000 Common stock, $20 par- 300,000 Premium on common stock- 22,000 Retained earnings- 156,150 Total Liabilities and Stockholder's Equity $552,600 $ 55,000 10,000 250,000 12,000 124,400 $451,400