Exercise 23-15 Your answer is partially correct. Try again. Presented below are data taken from the records of Alee Company. Cash Current assets other than cash Long-term investments Plant assets December 31, 2014 $14,650 84,330 9,610 333,370 $441,960 December 31, 2013 $10,420 58,700 53,310 216,430 $338,860 Accumulated depreciation Current liabilities Bonds payable Capital stock Retained earnings $19,990 40,470 74,560 253,800 53,140 $441,960 $39,880 21,810 -0- 253,800 23,370 $338,860 Additional information: 1. Held-to-maturity securities carried at a cost of $43,700 on December 31, 2013, were sold in 2014 for $33,120. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $60,620 and were 80% depreciated were sold during 2014 for $7,720. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $59,680. 4. Dividends paid amounted to $14,926. 5. Depreciation charged for the year was $28,606. Prepare a statement of cash flows for the year 2014 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ALE COMPANY Statement of Cash Flows For the Year Ended December 31, 2014 Cash Flows from Operating Activities 192 59680 Net Income Adjustments to reconcile net income to | Cash Flows from Operating Activities TLoss on Sale of Investments TLoss on Sale of Plant Assets T Depreciation Expense 28,606 T Increase in Current Assets other than Cash -25630 T Increase in Current Liabilities 18660 21636 Net Cash Provided by Operating Activities 81316 TCash Flows from Investing Activities TI Gain on Sale of Investments Sale of plant Assets Purchase of Plant Assets TNet Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Bonds Payable T Payment of Dividends 14,926 Net Cash Used by Financing Activities T Net Increase in Cash TCash at Beginning of Period Cash at End of Period