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Jobim Inc., had the following condensed balance sheet at the end of operations for 2013. JOBIM INC. BALANCE SHEET DECEMBER 31, 2013 Cash $8,240 Current

Jobim Inc., had the following condensed balance sheet at the end of operations for 2013. JOBIM INC. BALANCE SHEET DECEMBER 31, 2013 Cash $8,240 Current liabilities $15,060 Current assets other than cash 29,360 Long-term notes payable 25,630 Investments 19,930 Bonds payable 24,670 Plant assets (net) 67,870 Capital stock 75,170 Land 40,060 Retained earnings 24,930 $165,460 $165,460 During 2014, the following occurred. 1. A tract of land was purchased for $11,070. 2. Bonds payable in the amount of $20,340 were retired at par. 3. An additional $10,050 in capital stock was issued at par. 4. Dividends totaling $9,198 were paid to stockholders. 5. Net income was $30,620 after deducting depreciation of $13,950. 6. Land was purchased through the issuance of $22,340 in bonds. 7. Jobim Inc. sold part of its investment portfolio for $12,880. This transaction resulted in a gain of $2,210 for the company. The company classifies the investments as available-for-sale. 8. Both current assets (other than cash) and current liabilities remained at the same amount. Prepare a statement of cash flows for 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).) JOBIM INC. Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ $ LINK TO TEXT Prepare the condensed balance sheet for Jobim Inc. as it would appear at December 31, 2014. (List current assets in the order of Liquidity.) JOBIM INC. Balance Sheet December 31, 2014 Assets $ $ $ $ Liabilities and Stockholders' Equity $ $ $ $

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