Cash Accounts receivable (net) Inventory Long-term investments Property, plant & equipment Accumulated depreciation Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings Additional data: Kinder Company Balance Sheet 1. Net income for the year 2011, $76,000. December 31 2011 $ 30,900 2010 $ 10,200 43,300 20,300 35,000 42,000 15,000 236,500 150,000 (37,700) $308,000 (25,000) $212,500 $ 17,000 21,000 $ 26,500 17,000 70,000 50,000 130,000 90,000 70.000 29,000 $308,000 $212,500 2. Depreciation on plant assets for the year, $12,700. 3. Sold the long-term investments for $28,000 (assume gain or loss is ordinary). 4. Paid dividends of $35,000. 5. Purchased machinery costing $26,500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. 23-46 Test Bank for Intermediate Accounting, Thirteenth Edition Instructions , prepare a statement of cash flows (using the indirect method) for 2011 for Kinder Company