Create a statement of cash flow using the inderect method NoName Company
Income Statement
For the Year-Ended December 31, 2015
Sales		$ 2,430,000.00
COGS		$ 1,565,000.00
Gross profit		$ 865,000.00
Operating expenses:
Depreciation expense	$ 16,000.00
Other operating expenses	$ 598,000.00
Total operating expenses		$ 614,000.00
Income from operations:
Other income:
Gain on sale of investments	$ 6,500.00
Other expenses:
Interest expense	$ 17,000.00
Income before income tax		$ 240,500.00
Income tax expense		$ 63,000.00
Net income		$ 177,500.00

NoName Company
Comparative Balance Sheet
December 31, 2015
	2015	2014
Assets
Current Assets:
Cash	$ 184,420.00	$ 25,740.00
Accounts Receivable	$ 68,700.00	$ 83,000.00
Inventories	$ 134,500.00	$ 128,000.00
Prepaid insurance	$ 2,980.00	$ 4,560.00
Property, Plant, Equiment:
Investments (long term)	$ 211,000.00	$ 120,000.00
Land	$ 208,500.00	$ 255,000.00
Equipment	$ 203,000.00	$ 203,000.00
Accumulated depreciation-Equipment	$ (117,500.00)	$ (101,500.00)
Total Assets	$ 895,600.00	$ 717,800.00
Liabiities and Stockholder's Equity
Current Liabilties:
Accounts Payable	$ 26,500.00	$ 81,000.00
Interest payable	$ 3,400.00	$ 2,300.00
Income taxes payable	$ 30,200.00	$ 32,500.00
Longterm Liabilties:
Notes Payable	$ 255,000.00	$ 242,000.00
Stockholder's Equity:
Common Stock	$ 273,000.00	$ 230,000.00
Retained earnings	$ 307,500.00	$ 130,000.00
Total Liabilities and Stockholder's equity	$ 895,600.00	$ 717,800.00

Additional Notes:

Assume that all increases and decreases in long-term assets, long term liabilities, and common

stock are a result of cash transactions

Land costing $46,500 was sold, resulting in a gain of $6,500. No other long term assets were sold

Additional long term investments were purchased

An additional long term note payable was signed, No repayment on notes were made

Additional common stock were issued