KITE CORPORATION

Comparative Balance Sheets

December $31,2011$ and $2010$

Additional Information on Year $2011$ Transactions

a$.$ The loss on the cash sale of equipment was $$2,100($details in $b).$

b$.$ Sold equipment costing $$51,000,$ with accumulated depreciation of $$20,850,$ for $$28,050$ cash.

c$.$ Purchased equipment costing $$113,250$ by paying $$38,250$ cash and signing a long$-$term note payable

for the balance.

d$.$ Borrowed $$6,000$ cash by signing a short$-$term note payable.

e$.$ Paid $$45,000$ cash to reduce the long$-$term notes payable.

f$.$ Issued $3,000$ shares of common stock for $$11$ cash per share.

g$.$ Declared and paid cash dividends of $$63,000.$ Requirement: prepare complete cashflow $($operating$,$investing and financing$)$