Problem 12-B Cash Accounts receivable Inventory Prepaid expenses Land Plant and equipment Accumulated depreciation Total assets Accounts payable Other accrued liabilities Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Total liabilities and owners' equity Income Statement Sales Less cost of goods sold Gross profit Less operating expenses Net operating income Less interest expense Less income tax expense Net income Requirements: For the Blueberry Company, for the year ended December 31 of the current year, prepare: 1) A Statement of Cash Flows, using the Direct Method, showing cash flows from operating, investing and financing activities. 2) The operating section of the Statement only, using the Indirect Method. Statement of Cash Flows - Direct & Indirect Metho Balance Sheet Ending Beginning Balance Balance 18 24 46 52 28 20 22 16 40 36 88 76 (32) (24) 210 200 28 16 24 28 6 4 36 44 106 100 10 8 210 200 |- |- - - |- 16 18