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Boatwig, Corp. Balance Sheet December 31, 2013 and December 31, 2014 2013 Dr. Cr. 2014 Assets Cash $19,000 $71,000 Accounts Receivable 66,000 84,000 Inventory 185,000
| Boatwig, Corp. | |||||
| Balance Sheet | |||||
| December 31, 2013 and December 31, 2014 | |||||
| 2013 | Dr. | Cr. | 2014 | ||
| Assets | |||||
| Cash | $19,000 | $71,000 | |||
| Accounts Receivable | 66,000 | 84,000 | |||
| Inventory | 185,000 | 184,000 | |||
| Land | 113,000 | 67,000 | |||
| Equipment | 195,000 | 256,000 | |||
| Accummulated Depreciation | (42,000) | (69,000) | |||
| Total | $536,000 | $593,000 | |||
| Liabilities and Stockholders' Equity | |||||
| Accounts Payable | $44,000 | $36,000 | |||
| Bonds Payable | 198,000 | 143,000 | |||
| Common Stock | 167,000 | 222,000 | |||
| Retained Earnings | 127,000 | 192,000 | |||
| Total | $536,000 | - | - | $593,000 | |
| Additional Information: | |||||
| 1. Net income for 2014 | $125,000 | ||||
| 2. No gains or losses were recorded in 2014 | |||||
| 3. Cash dividends declared and paid | $60,000 | ||||
| 4. Bonds payable retired by issuing common stock | $55,000 | ||||
| In the space below, prepare a Statement of Cash Flows for the year ended December 31, 2014: | |||||
| Use the worksheet (above) to aid your work if you like. I will grade the resulting cash flow statement (below) only. | |||||
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