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Cassandra Corporations comparative balance sheets are presented below. CASSANDRA CORPORATION Comparative Balance Sheets December 31 2014 2013 Cash $16,780 $17,480 Accounts receivable 25,240 22,200 Investments
Cassandra Corporations comparative balance sheets are presented below.
CASSANDRA CORPORATION Comparative Balance Sheets December 31 | ||||||
2014 | 2013 | |||||
Cash | $16,780 | $17,480 | ||||
Accounts receivable | 25,240 | 22,200 | ||||
Investments | 19,960 | 16,230 | ||||
Equipment | 59,920 | 69,870 | ||||
Accumulated depreciationequipment | (13,910 | ) | (10,370 | ) | ||
Total | $107,990 | $115,410 | ||||
Accounts payable | $14,360 | $11,250 | ||||
Bonds payable | 10,020 | 30,030 | ||||
Common stock | 50,270 | 44,630 | ||||
Retained earnings | 33,340 | 29,500 | ||||
Total | $107,990 | $115,410 |
Additional information:
1. | Net income was $18,590. Dividends declared and paid were $14,750. | |
2. | Equipment which cost $9,950 and had accumulated depreciation of $1,850 was sold for $3,600. | |
3. | All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. |
(a) Prepare a statement of cash flows for 2014 using the indirect method
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