prepare cash flow statement

PROBLEM 2-14 STATEMENT OF CASH FLOWS ancial statements for the Pe The financia its for the Peoples Show Store are as follows: INCOME STATEMENT 2013 Sales Cost of Goods Sold Gross Profit 800,000 500.000 300,000 Selling and Operating Expenses Net Operating Income Nonoperating items: 213,000 87.000 Gain on sale of investing Loss on sale of equipment 7,000 _(4.000) DO Income before taxes Income taxes Net Income - 3.000 90,000 27,000 63,000 ODP 00002 During 2013, Peoples sold some equipment for $20,000 that had cost $40,000 and hich there was accumulated depreciation of $16,000. In addition, the company sold term investments for $10,000 that had cost $3,000 when purchased several years A cash dividend was paid during 2013 and the company repurchased $40,000 of its own stock. Peoples did not retire any bonds during 2013. PROBLEM 2-14 STATEMENT OF CASH FLOWS Continued: TO Peoples Company BALANCE SHEET 2013 Cash Accounts Receivable Inventory Prepaid Expenses 000. EIS Total Current Assets: Property, Plant, and Equipment Less Accumulated Depreciation Net Property Plant and Equipment Long Term Investments Total Assets: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities: Bonds Payable Total Liabilities: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2012 15,000 240,000 175,000 6,000 436,000 470,000 85,000 385,000 19,000 $840,000 230,000 72,000 34,000 336,000 180,000 516,000 250,000 74,000 324,000 2013 9,000 340,000 125,000 10,000 484.000 610,000 93.000 517,000 16,000 $1,017,000 310,000 60,000 40,000 410,000 290,000 700,000 210,000 107,000 317,000 840,000 1,017,000