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Scully Corporation's comparative balance sheets are presented below. SCULLY CORPORATION Comparative Balance Sheets December 31 2011 2010 Cash $14,499 $10,427 Accounts receivable 21,297 23,252 Land

Scully Corporation's comparative balance sheets are presented below.

SCULLY CORPORATION
Comparative Balance Sheets

December 31

2011

2010

Cash $14,499 $10,427
Accounts receivable 21,297 23,252
Land 20,033 25,742
Building 68,870 68,870
Accumulated depreciation

(15,148)

(10,204)

Total

$109,551

$118,087

Accounts payable $12,127 $31,181
Common stock 73,600 68,800
Retained earnings

23,824

18,106

Total

$109,551

$118,087

Additional information:

  1. Net income was $20,199. Dividends declared and paid were $14,481.
  2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,831.Complete the statement of cash flows for 2011 using the indirect method.
  3. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)image text in transcribed

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