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Revised Summer 2016 Practice Problem #4 Chapter Review C Company's net income last year was $91,000. Changes in the company's balance sheet accounts for the year appear below: Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant and equipment Accumulated depreciation Accounts payable Accrued exienses Bonds payable Common stock Retained earnings ($13,000) 16,000 21,000 (8,000) 30,000 60,000 36,000 (21,000) 14,000 - (50,000 20,000 65,000 The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend. The beginning and ending cash balances were $20,000 and $7,000, respectively. Required: Prepare a statement of cash ows using the indirect method