I help with Exercise 23-12 (WileyPlus) prepare a statement of cash flows using direct method.

Exercise 23-12 Condensed financial data of Fairchild Company for 2012 and 2011 are presented below. Cash Receivables Inventory Plant assets Accumulated depreciation FAIRCHILD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2012 AND 2011 2012 $1,805 1,741 1,590 1,890 (1,191 ) 2011 $1,096 1,290 1,917 1,693 (1,170 ) Long-term investments (held-to-maturity) 1,302 $7,137 1,474 $6,300 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,202 216 1,404 1,900 2,415 $7,137 $799 234 1,647 1,701 1,919 $6,300 FAIRCHILD COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2012 Sales Cost of goods sold Gross margin Selling and administrative expenses Income from operations $6,818 4,693 2,125 920 1,205 Other revenues and gains Gain on sale of investments Income before tax Income tax expense Net income 92 1,297 540 $757 Additional information: During the year, $74 of common stock was issued in exchange for plant assets. No plant assets were sold in 2012. Cash dividends were $261. Prepare a statement of cash flows using the direct method. (If an amount reduces the account balance then enter with negative sign.) FAIRCHILD COMPANY Statement of Cash Flows For the Year Ended December 31, 2012 (Direct Method) Cash flows from operating activities Cash collected from customers Less: Cash paid for merchandise Less: Cash paid for SG&A expenses Less: Cash paid for income taxes Net cash provided by operating activities Cash flows from investing activities Sale of held-to-maturity investments Purchase of plant assets Net cash provided by investing activities Cash flows from financing activities Issuance of capital stock Retirement of bonds payable Payment of cash dividends Net cash used by financing activities Net increase in cash Cash, January 1, 2010 Cash, December 31, 2010 Non cash Investing & Financing Activities Issurance of Common stock for Plant Assets