f. 5000 shares of common stock were issued at $28 in exchange for the bonds payable

g. cash dividends declared, 46800.

1. The comparative balance sheet of Branch Co. for the year ended December 31, 2015 and the preceding year, prepare a statement of cash flows using the indirect method of reporting cash flows. Assets Cash Accounts receivable(net) Inventories Prepaid Expenses Land Buildings Accumulated depreciation Machinery and equipment Accumulated depreciation Patents Year 2016 $158,300 237,600 317,100 11,300 108,000 612,000 (166,500) 279,000 (76,500) 38,200 $1,518,500 Year 2015 $ 128,900 211,500 365,200 9.000 108.000 405,000 (148,050) 279,000 (68,400) 43,200 $1,333,350 $299,100 11,700 28,200 80,000 $331,000 9,000 31,100 Liabilities and Stockholder' s Equity Accounts payable(merchandise creditors) Dividend payable Salaries payable Mortagage payable, due 2020 Bonds payable Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings 23,000 180,000 896,500 $1,518,500 140,000 18,000 45,000 759,150 $1,333,350 An examination of the income statement and the accounting records revealed the following additional information applicable to 2016. a. Net income $184,150 b. Depreciation expense reported on the income statement : buildings: 18,450, machinery and equipment ; 8,100. c. Patent amortization reported on the income statement, 5,000. d. A building was constructed for 207.000 e. A mortgage note for 80,000 was issued for cash