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Problem 5 (20%) Micoz Corporation's comparative balance sheets are presented below. MIROZ CORPORATION Comparative Balance Sheets December 31 2018 2017 Cash $ 18,700 $ 22,700
Problem 5 (20%) Micoz Corporation's comparative balance sheets are presented below. MIROZ CORPORATION Comparative Balance Sheets December 31 2018 2017 Cash $ 18,700 $ 22,700 Accounts receivable 24,700 22,300 Investments 25,000 16,000 Equipment 59,000 70,000 Accumulated depreciation (14,500) (10,000) Total $112.900 $121,000 Accounts payable $ 13,600 $11,100 Bonds payable 6,000 30,000 Common stock 50,000 45,000 Retained earnings 43,300 34.900 Total $112.900 $121.000 Additional information: 1. Net income was $17,700. 2. Dividends declared and paid were $9,300. 3. Equipment which cost $11,000 and had accumulated depreciation of $2,000 was sold for $4,000. 4. Purchase of investments of $9,000. Instructions: Prepare a statement of cash flows using the indirect method
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