CONDENSED FINANCIAL DATA OF SINJH INC. FOLLOW:

Sinjh Inc.

Comparative Balance Sheets

Decemeber 31

Assets 2014 2013

Cash $100,350 $48,400

Accounts recievable 92,800 33,000

Inventory 112,500 102,850

Prepaid Expenses 29,300 26,000

Longterm investments 140,000 114,000

Plant assets 265,000 242,500

Accumulated Depreciation (47,000) (52,000)

Total $692,950 $514,750

Liabilities and Stockholders' Equity

Accounts Payable $112,000 $67,300

Accured expenses payable 16,500 17,000

Bonds Payable 110,000 150,000

Common Stock 220,000 175,000

Retained Earnings 234,450 105,450

Total $ 692,950 $514,750

Sinjh Inc.

Income Statement

For the Year Ended Decemeber 31,2014

Sales $392,780

Gain on disposal of Plant Assets 5,000 $397,780

Less:

Cost of Goods Sold 135,460

Operating Expenses, excluding Deprecation 13,410

Deprecation Expense 45,000

Income Taxes 27,280

Interest Exense 4,730 224,880

Net Income $172,900

Additional Information:

1. New Plant assets costing $80,000 were purchased for cash during the year

2. Old plant assets having an original cost of $57,500 and accumulated depreciation of $50,000 were sold for $12,500 cash.

3. Bonds payable matured and were paid off at face value for cash.

4. A cash dividend of $43,900 was declared and paid during the year.

Instructions:

PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD.