Statement of Cash FlowsIndirect Method

The comparative balance sheet of Amelia Enterprises, Inc. at December 31, 2014 and 2013, is as follows:

		Dec. 31, 2014		Dec. 31, 2013
Assets
Cash		$62,740		$76,810
Accounts receivable (net)		96,410		103,540
Merchandise inventory		137,720		128,340
Prepaid expenses		5,610		3,890
Equipment		280,550		229,930
Accumulated depreciation-equipment		(72,940)		(56,390)
	Total	$510,090		$486,120
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$107,120		$101,600
Mortgage note payable		0		145,840
Common stock, $1 par		16,000		10,000
Paid-in capital in excess of par-common stock		227,000		137,000
Retained earnings		159,970		91,680
	Total	$510,090		$486,120

Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2014 are as follows:

Net income, $174,820.

Depreciation reported on the income statement, $35,630.

Equipment was purchased at a cost of $69,700, and fully depreciated equipment costing $19,080 was discarded, with no salvage realized.

The mortgage note payable was not due until 2016, but the terms permitted earlier payment without penalty.

6,000 shares of common stock were issued at $16 for cash.

Cash dividends declared and paid, $106,530.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.

Amelia Enterprise, Inc Statement of Cash Flows For the Year Ended December 31, 2014
Cash flows from operating activities:
Net income		$ insert answer
Adjustments to reconcile net income to net cash flow from operating activities:
Deprecitation		insert answer
Changes in current operating assets and liabilities:
Decrease in accounts receivable		insert answer
Increase in merchandise inventory		insert answer
Increase in prepaid expenses		insert answer
increase in accounts payable		insert answer
Net cash flow from operating activities			$ insert answer
Cash flow from investing activities:
Cash paid for equipment		$ insert answer
Net cash flow used for investing activities			insert answer
Cash flows from financing activities:
Cash received from sale of common stock		$ insert answer
Less cash paid for dividends	$ insert answer
Less cash paid to retire mortage note payable	insert answer	insert answer
Net cash flow used in financing activities			insert answer
Decreased in cash			$ insert answer
Cash at beginning of the year			insert answer
Cash at end of the year			$ insert answer