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Question: Mikkid, Inc. is in the business of manufacturing c...

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Mikkid, Inc. is in the business of manufacturing childrens toys. Following is some information from the 2010 and 2009 financial years. Please use the following information and the financial statements on the Excel spreadsheet to craft the statement of cash flows (indirect method).

A. Mikkid did not purchase any ST Investments during 2010. On January 1, 2010, they sold Investments with an original cost of $60,000.

B. During 2010, Mikkid traded 50,000 shares of their common stock to Microsoft in exchange for a piece of land with a fair value of $78,000. No other transactions during 2010 affected common stock.

C. During 2010, Mikkid sold equipment with an original cost of $ 45,000 and an accumulated depreciation of $ 8,000. All other purchases of property, plant, and equipment were made in cash.

D. During 2010, Mikkid paid dividends of $ 184,600 and declared dividends of $187,000.

Assets Current Assets Cash Accounts Receivable, net Allowance for Bad Debt Inventory ST Investments Total Current Assets Land Property, Plant, Equip Accumulated Depr. Patents, net Goodwill Total Assets Mikkid, Inc. Balance Sheet As of 12/31/2010 12/31/2009 165,400.00 87, 300.00 123,500.00 114,500.00 (10,500.00) 6,000.00 386,500.00 350,000.00 240,000.00 300,000.00 904,900.00 845,800.00 700,000.00 550,000.00 1,300,000.00 1,150,000.00 267,000.00 (210,000.00) 175,000.00 180,000.00 210,000.00 210,000.00 3,022,900.00 2,725,800.00