R $5$ The Statement of Cash Flows R $5$ The Statement of Cash Flows

Additional information:

Old equipment that cost $$100,000$ and had been depreciated a total of $$60,000$ was

sold for $$50,000.$

New equipment was purchased for cash during the year.

Some of the bonds were repaid during the year.

New shares were issued for cash during the year.

Dividends were declared and paid during the year.

Required:

Prepare a statement of cash flows for Gibbons Electronic Company for the year ended

December $31,2011.$ Include supplementary information to disclose the amounts paid for

interest and income taxes.

$5-32($Prepare statement of cash flows$)$

Financial statement data for Comfort Shoes Company for $2011$ follow:

COMFORT SHOES COMPANY

Comparative Statement of Financial Position

Additional information:

Old equipment that cost $$100,000$ and had been depreciated a total of $$60,000$ was

sold for $$50,000.$

New equipment was purchased for cash during the year.

Some of the bonds were repaid during the year.

New shares were issued for cash during the year.

Dividends were declared and paid during the year.

Required:

Prepare a statement of cash flows for Gibbons Electronic Company for the year ended

December $31,2011.$ Include supplementary information to disclose the amounts paid for

interest and income taxes.

$5-32($Prepare statement of cash flows$)$

Financial statement data for Comfort Shoes Company for $2011$ follow:

COMFORT SHOES COMPANY

Comparative Statement of Financial Position