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..ll AT&T 2:26 PM @ 73% -1057512-dt-content-rid-4567122. 301-XX-FA17-01-02JACCT-301-XX-FA I. Preparation of a Statement of Cash Flows The president of The Hardcastle Corporation understands that a statement ofh flows is one of required financial statements ile asks your assistance in preparing the statement. He provides you with the following comparative helance sheets for 2011 and 2010, as well as the income statement for the year ended December 31, 2011. THE HARDCASTLE CORPORATION Comparative Balance Sheets 2011 2010 Current assets: s 1,200 20,000 47,000 4,200 28,000 3,000 Accounts receivable Prepaid expenses Total current assets 5 66200 Property, plant, and equipment 5 3,800 8,700 Machinery and equipment, net Buildings, net 8,500 Total property, plant, and equipment Other assets Patents, net Total assels Liabilities and Owners Equity 2011 2010 Current liabaities Notes payable Current maturities of kong-term debt Accounts payable Accrued liabilities $ 4,000 2,000 5.500 $ 5,800 1,900 6,000 Total current liabilities Long-term debt 61,000 s 60,000 Common stock, no par Retained earmings Total stockholders' equity Total liabilities and stockholders' equity$12920 THE HARDCASTLE CORPORATION Statement of Income and Retained Earnings For the Year Ended December 31, 2011 Sales $174,000