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Need some help figuring this out please. Can someone please complete this ACC/291 48566277 / Assignment: Week 5 Assignment *Problem 1210A Condensed financial data of
Need some help figuring this out please. Can someone please complete this
ACC/291 48566277 / Assignment: Week 5 Assignment *Problem 1210A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 Cash 2013 $ 105,848 $ 63,404 Accounts receivable 115,018 49,780 Inventory 147,375 134,734 37,204 34,060 Longterm investments 180,780 142,790 Plant assets 373,350 317,675 Accumulated depreciation (65,500 ) (68,120 $894,075 $674,323 $ 133,620 $ 88,163 21,615 27,510 Bonds payable 144,100 191,260 Common stock 288,200 229,250 Retained earnings 306,540 138,140 $894,075 $674,323 Prepaid expenses Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Total ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue $508,883 Less: Cost of goods sold $177,453 Operating expenses, excluding depreciation 16,257 Depreciation expense 60,915 Income taxes 35,737 Interest expense 6,196 Loss on disposal of plant assets 9,825 Net income 306,383 $ 202,500 Additional information: 1 . 2 . 3 . 4 . New plant assets costing $131,000 were purchased for cash during the year. Old plant assets having an original cost of $75,325 and accumulated depreciation of $63,535 were sold for $1,965 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of $34,100 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).)Step by Step Solution
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