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Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31. 2012 2011 Cash
Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.
2012 | 2011 | |||||
Cash | $329,386 | $163,644 | ||||
Accounts receivable | 377,640 | 388,130 | ||||
Investments | 109,096 | 155,252 | ||||
Equipment | 625,204 | 503,520 | ||||
Less: Accumulated depreciation%u2014equipment | (222,388 | ) | (186,722 | ) | ||
Current liabilities | 281,132 | 316,798 | ||||
Capital stock | 335,680 | 335,680 | ||||
Retained earnings | 602,126 | 371,346 |
Additional information: Investments were sold at a loss (not extraordinary) of $14,686; no equipment was sold; cash dividends paid were $104,900; and net income was $335,680. (a) Prepare a statement of cash flows for 2012 for Sondergaard Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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