Review the 2012 financial statements for Amy's Fashions in the Excel Template below, then: Complete the whole statement of cash flows by using the indirect method.

Module 7 Assignment: Amy's Fashions ended the year 2012 with the following balance: Amy's Fashions Comparative Balance Sheet December 31, 20XX 2012 ASSETS Current Assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Investments (long term) Plant Assets: Land Buildings (net) Equipment, net Patents Total Assets LIABILITIES Current Liabilities: Accounts Payable Accrued Liabilities Income Taxes Payable Dividends Payable Long Term Liabilities: Mortgage note payable Bonds Payable Total Liabilities STOCKHOLDER'S EQUITY Common Stock Additional paid in capital-common Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Amy's Fashions Comparative Income Statement For the Year Ended 2012 2011 Increase (Decrease) 140,350 95,300 165,200 6,240 35,700 95,900 102,300 157,900 5,860 84,700 44,450 -7,000 7,300 380 -49,000 75,000 303,700 279,800 58,000 1,159,290 90,000 201,700 290,300 65,000 1,093,660 -15,000 102,000 -10,500 -7,000 65,630 43,500 14,000 7,900 14,000 46,700 12,500 8,400 10,000 40,000 150,000 269,400 250,000 327,600 -3,200 1,500 -500 4,000 0 40,000 -100,000 -58,200 450,000 66,250 373,640 889,890 1,159,290 375,000 41,250 349,810 766,060 1,093,660 2012 Revenues: sales Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Patent Amortization Other operating expenses Total Operating Expenses: Income from operations Other Income: Gain on sale of investments Other Expenses: Interest Expense Income before income tax Income tax expense Net Income 0 75,000 25,000 23,830 123,830 65,630 An examination of the accounting records revealed the following for 2010: Land costing $15,000 was sold for $15,000 A mortgage note was issued for $40,000 A building costing $115,000 was constructed 2,500 shares of common stock were issued at 40 in exchange for the bonds payable Cash dividends declared were $74,670 1 Use the worksheet to calculate changes in Current Assets and Liabilities: Account Beginning Balance Debit Credit Debit 2 Ending Balance Credit Using the indirect method, prepare the statement of cash flows for Amy's Fashions for the year ended 2012. Amy's Fashions Statement of Cash Flows-Indirect Method For the Year Ended 2012 1,100,000 710,000 390,000 23,500 7,000 196,000 226,500 163,500 11,000 26,000 -15,000 148,500 50,000 98,500