prepare statement of cash flows using indirect method for cash flow from operations.

Alethea Inc. Comparative Balance Sheets Dec 31, 2010 Dec 31, 2011 $50,000 160.000 210.000 420.000 350.000 120,000) 230,000 S650.000 $65,000 166,000 214,000 445.000 380,000 (152.000 228.000 5673.000 Assets Current Assets Cash and cash equivalents Accounts Receivable, net Inventory Total Current Assets Property & Equipment - at cost Less Accumulated depreciation Net Property & Equipment Total Assets Liabilities and Equity Current Liabilities: Accounts payable - trade Deferred Reveme Interest Payable Total Curent Liabilities Long-term Bonds Payable Common Stock Retained Earnings Total Liabilities and Equity 585.000 12.000 8.000 105.000 120,000 300,000 125.000 S650.000 583.000 $15.000 9.000 107.000 90.000 350.000 126,000 S673.000 Alethea Inc. Income Statement For year eaded December 31, 2011 Revenues Cost of Goods Sold Gross Profit Wapes and Salaries Depreciation Expense Interest Expense Total operating expense Operating Profit Plus: Gain on Sale of Equipment Income before tex Income Tax Expense Net Income $800,000 450.000 350.000 200,000 48.000 7.000 255.000 95,000 5.000 100,000 30,000 $70,000