BBB COMPANY Balance Sheet December 31, 2011 and 2010 cash soo December 31, 2010 2011 Assets Cash Marketable securities Accounts receivable Inventories Total current assets J Land I Equipment Accumulated depreciation equipment 1 Building Accumulated depreciation-building Total assets Liabilities and Stockholders' Equity O Accounts payable O Wages payable Taxes payable Total current liabilities 1 Bonds payable Common stock, $10 par Additional paid-in capital Retained earnings Total liabilities and stockholders' equity $ 4,500 2,500 6,800 7,500 21,300 11,000 24,000 (3,800) 70,000 (14,000) $108,500 $ 4,000 2,000 7,200 8,000 21,200 12,000 20,500 (3,000) 70,000 (12,000) $108,700 $ 7,800 1,050 500 9,350 30,000 32,000 21,000 16,150 $108,500 $ 7,000 1,000 1,500 9,500 30,000 30,000 19,200 20,000 $108,700 BBB COMPANY Income Statement For Year Ended December 31, 2011 $38,000 $ 2,800 35,000 Sales Operating expenses: Depreciation expense Other operating expenses Operating income Gain on sale of land Income before tax expense Tax expense Net income 37,800 200 800 1,000 500 $ 500 (continued) (P 10-3 CONTINUED) Supplemental information: Dividends declared and paid $ 4,350 Land sold for cash 1,800 Equipment purchased for cash 3,500 Common stock sold for cash 3,800 Required a. Prepare a statement of cash flows for the year ended December 31, 2011. (Present the cash flows from operations using the indirect method.) b. Comment on the statement of cash flows. Complete Problem 10-3, parts a, and b. For Part b, provide one comment on the cash flows for operating activities, one comment for investing activities, and on (Ctrl)