Kinder Company Balance Sheet December 31 2011 Cash $ 30.900 43,300 Accounts receivable (net) Inventory 35,000 Long-term investments 0 236,500 Property, plant & equipment Accumulated depreciation (37.700) $308.000 $ 17,000 Accounts payable Accrued liabilities 21,000 70,000 Long-term notes payable Common stock 130,000 Retained earnings 70.000 $308.000 Additional data: 1. Net income for the year 2011, $76,000. 2. Depreciation on plant assets for the year, $12,700. 3. Sold the long-term investments for $28,000 (assume gain or loss is ordinary). 4. Paid dividends of $35,000. 5. Purchased machinery costing $26,500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. 23-46 Test Bank for Intermediate Accounting, Thirteenth Edition Instructions prepare a statement of cash flows (using the indirect method) for 2011 for Kinder Company. 2010 $ 10,200 20,300 42,000 15,000 150,000 (25.000) $212.500 $ 26,500 17,000 50,000 90,000 29,000 $212.500