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Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash $158,368 $94,864 Accounts receivable 172,088

Problem 12-9A Condensed financial data of Odgers Inc. follow.
ODGERS INC. Comparative Balance Sheets December 31
Assets 2014 2013
Cash $158,368 $94,864
Accounts receivable 172,088 74,480
Inventory 220,500 201,586
Prepaid expenses 55,664 50,960
Long-term investments 270,480 213,640
Plant assets 558,600 475,300
Accumulated depreciation (98,000 ) (101,920 )
Total $1,337,700 $1,008,910
Liabilities and Stockholders Equity
Accounts payable $199,920 $131,908
Accrued expenses payable 32,340 41,160
Bonds payable 215,600 286,160
Common stock 431,200 343,000
Retained earnings 458,640 206,682
Total $1,337,700 $1,008,910
ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue $761,382
Less:
Cost of goods sold $265,502
Operating expenses, excluding depreciation 24,324
Depreciation expense 91,140
Income tax expense 53,469
Interest expense 9,271
Loss on disposal of plant assets 14,700 458,406
Net income $302,976
Additional information:
1. New plant assets costing $196,000were purchased for cash during the year.
2. Old plant assets having an original cost of $112,700and accumulated depreciation of $95,060were sold for $2,940cash.
3. Bonds payable matured and were paid off at face value for cash.
4.

A cash dividend of $51,018was declared and paid during the year.

Prepare a statement of cash flows using the indirect method. (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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