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Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 ssets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment 2015
Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 ssets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment 2015 $62,930 85,630 170,230 74,670 269,510 (66,440) $596,530 2014 $21,950 76,290 188,940 101,900 199,530 (31,560) $557,050 Tota Liabilities and Stockholders' Equit Accounts payable Bonds payable Common stock ($1 par) Retained earnings $39,240 150,630 214,130 192,530 $596,530 $47,470 203,650 175,850 130,080 $557,050 Total Additional information: 1. Net income for 2015 was $93,710. 2. Cash dividends of $31,260 were declared and paid 3. Bonds payable amounting to $53,020 were redeemed for cash $53,020 4. Common stock was issued for $38,280 cash. 5. No equipment was sold during 2015, but land was sold at cost Prepare a statement of cash flows for 2015 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).)
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