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Question 27 Dec. 31, 2010 A comparative balance sheet for Mann Company appears below: MANN COMPANY Comparative Balance Sheet Dec 31, 2011 Assets Cash $

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Question 27 Dec. 31, 2010 A comparative balance sheet for Mann Company appears below: MANN COMPANY Comparative Balance Sheet Dec 31, 2011 Assets Cash $ 27,000 Accounts receivable 18,000 Inventory 25,000 Prepaid expenses 6,000 Long-term investments $10,000 14,000 18,000 9,000 18,000 Equipment 60.000 32,000 (14,000) Accumulated depreciation-equipment Total assets (20,000) $116,000 $87,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 $ 7.000 Bonds payable 47,000 Common stock 37.000 40,000 22.000 $116.000 Retained earnings 23,000 10.000 $87.000 Total liabilities and stockholders' equity Additional information: DS 6,000 Prepaid expenses Long-term investments Equipment Accumulated depreciation equipment Total assets 60,000 (20,000) $116,000 9,000 18,000 32,000 (14,000) $87,000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 Bonds payable 37 000 Common stock $7.000 47.000 23,000 10 000 $87.000 40,000 22.000 $116,000 Retained earnings Total liabilities and stockholders' equity Additional information: 1. Net Income for the year ending December 31, 2011 was $27.000 2. Cash dividends of $15,000 were declared and paid during the year 3. Long-term investments that had a cost of $18.000 were sold for $14.000 4. Sales for 2011 were $120.000 Instructions: Prepare a statement of cash flows for the year ended December 31, 2011, using the Indirect method IF THE AFFECT ON THE CASH FLOW STATEMENT IS A DECREASE PUT A NEGATIVI SIGN IN FRONT OF THE NUMBER OR USE PARENTHESES TO SHOW IT IS A NEGATIVE NUMBER For the operating section show income statement items first followed by changes in current assets and then changes in current liabilities For the investing section, show any sales first before any purchases For the investing section, show common stock, then bonds, then dividends. TTT Ara 311200) T.EE DELL

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