Canvas Exercise on Preparation of Cash Flow Statement

Ramos Corporation$$s comparative Statements of Financial Position are presented below:

Ramos Corporation

Comparative Statements of Financial Position

Dec$\mathrm{.}11,2019$

$20192018$

Cash P $15,200$ P $17,700$

Accounts Receivable $25,20022,300$

Investments $20,00016,000$

Equipment $60,00070,000$

Accumulated Depreciation$-$ Equipment $(14,000)$

$(10,000)$

Total $106,400116,000$

Liabilities and Stockholder$$s Equity

Accounts Payable P $14,600$ P $11,100$

Bonds Payable $10,00030,000$

Common Stock $50,00045,000$

Retained Earnings $31,80029,900$

Total $106,400116,000$

Additional information:

$1.$ Net income was P $18,300.$ Dividends declared and paid were P $16,400.$

$2.$ Equipment which cost P$10,000$ and had accumulated depreciation of P$1,200$ was sold for P$3,300.$

$3.$ No noncash investing and financing activities occurred in $2019.$

Prepare a Statement of Cash Flows for $2019$ using the indirect method.