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Please help. Exercise 13-9 (Part Level Submission) Rodriquez Corporation's comparative balance sheets are presented below. RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2015 2014 Cash
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Exercise 13-9 (Part Level Submission) Rodriquez Corporation's comparative balance sheets are presented below. RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2015 2014 Cash $15,410 $17,470 Accounts receivable 25,380 22,250 Investments 20,170 15,780 Equipment 59,920 69,850 Accumulated depreciation-equipment (14,080 ) (10,190) Total $106,800 $115,160 Accounts payable Bonds payable Common stock Retained earnings Total $14,580 10,970 50,210 31,040 $106,800 $11,050 30,070 44,540 29,500 $115,160 Additional information: 1. Net income was $18,500. Dividends declared and paid were $16,960. 2. Equipment which cost $9.930 and had accumulated depreciation of $1,010 was sold for $3,230. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. (a) Prepare a statement of cash flows for 2015 using the Indirect method. (Show amounts that decrease cash flow with either a sign (15,000).) Step by Step Solution
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