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Assets 12/31/2015 Cash $ 42 $ Accounts Receivable $ 35 $ Inventory $ 53 $ PP&E $ 500 $ Accum Depr $ (330) $ Total
Assets 12/31/2015 Cash $ 42 $ Accounts Receivable $ 35 $ Inventory $ 53 $ PP&E $ 500 $ Accum Depr $ (330) $ Total Assets $ 300 $ Bike Corp balance sheet is below with the management narrative: Comparative Balance Sheet - Bike SSSSSS Net Income for the period was $33. The company sold equipment for $29 that was originally purchased for $51. The sold asset had accumulated depreciation of $27. The company paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock. 12/31/2016 -25 67 40 33 540 (360) 320 Liabilities & Equity Accounts Payable $ 20 $ 36 Accrued Liabilities. $ 15 $ 25 Income Tax Payable 36 S 40 Bonds Payable S 160 $ 115 Common Stock S 45 $ 55 Retained Earnings $ 24 $ 49 Total Liabilities & Equity 300 $ 320 Required: Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts)
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