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Problem 13-11A The comparative balance sheets for Strackman Lux Company as of December 31 are presented below. Assets Cash Strackman Lux Company Comparative Balance Sheets December 31 2014 $57,680 Accounts receivable 2013 $47,490 41,940 Prepaid expenses 65,370 148,560 Inventory 145,000 13,530 27,440 Land 146,570 132,170 Buildings Accumulated depreciation buildings Equipment Accumulated depreciation equipment 196,110 196,110 (63,390 ) (39,010 ) 228,810 156,000 (42,710 ) (37,320 ) $727,100 $693,250 Liabilities and Stockholders' Equity Accounts payable Total $46,200 $39,070 Bonds payable 300,000 300,000 Common stock, $1 par Retained earnings 193,370 187,530 158,970 195,210 $727,100 $693,250 Total Additional information: 1. 2. 3. 4. Operating expenses include depreciation expense of $39,010. Land was sold for cash at book value of $20,000. Cash dividends of $52,270 were paid. Net income for 2014 was $44,590. Equipment was purchased for $94,710 cash. In addition, equipment costing $21,900 with a 5. book value of $12,660 was sold for $6,020 cash. Issued 34,400 shares of $1 par value common stock in exchange for land with a fair value of 6. $34,400. Prepare a statement of cash flows for the year ended December 31, 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).) STRACKMAN LUX COMPANY Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ $ Click if you would like to Show Work for this question: LINK TO TEXT Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Question Attempt s: 0 of 1 used SAVE FOR SUBMIT LATER ANSWER Point Potential Policy set by your instructor. Copyright 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved