Taser Corporations recent comparative balance sheet and income statement follow.

Balance Sheets, December 31	Prior Year	Current Year
Assets
Cash and cash equivalents	$85,800	$140,360
Accounts receivable (net)	149,600	149,600
Merchandise inventory	343,200	374,000
Investments, long-term		44,000
Plant assets	741,400	794,200
Accumulated depreciation	(193,600)	(149,600)
Total assets	$1,126,400	$1,352,560
Liabilities and Stockholders Equity
Accounts payable	$92,400	$83,600
Salaries payable	6,600	2,200
Income taxes payable	8,800	15,400
Bonds payable	440,000	440,000
Premium on bonds payable	17,600	16,280
Common stock, no-par	528,000	684,200
Retained earnings	33,000	110,880
Total liabilities and stockholders equity	$1,126,400	$1,352,560

Income Statement, For Year Ended December 31	Current Year
Sales revenue	$528,000
Cost of goods sold	(211,200)
Depreciation expense	(26,400)
Salaries expense	(96,800)
Income tax expense	(44,000)
Interest expense	(30,800)
Other expenses	(10,120)
Gain on sale of plant assets	13,200
Net income	$121,880

Additional information

1. Purchased a plant asset, $132,000; issued common stock in full payment.

2. Purchased a long-term investment in equity securities for cash, $44,000.

3. Declared and paid cash dividend, $44,000.

4. Sold plant asset for $22,000 cash (cost, $79,200; accumulated depreciation, $70,400).

5. Issued common stock, 2,200 shares at $11 per share cash.

Required

• Cash Flow Worksheet
• Cash Flow Reconciliation

a. Prepare a cash flow worksheet.

Comparative Balance Sheets	Prior Year	Dr.	Cr.	Current Year
Cash and cash equivalents	$85,800	Answer	Answer	Answer
Accounts receivable	149,600	Answer	Answer	Answer
Merchandise inventory	343,200	Answer	Answer	Answer
Investments, long-term	0	Answer	Answer	Answer
Plant assets	741,400	Answer	Answer	Answer
Accumulated depreciation	(193,600)	Answer	Answer	Answer
Total assets	$1,126,400			Answer
Accounts payable	$92,400	Answer	Answer	Answer
Salaries payable	6,600	Answer	Answer	Answer
Income taxes payable	8,800	Answer	Answer	Answer
Bonds payable	440,000	Answer	Answer	Answer
Premium on bonds payable	17,600	Answer	Answer	Answer
Common stock, no par	528,000	Answer	Answer	Answer
Retained earnings	33,000	Answer	Answer	Answer
Total liabilities and stockholders' equity	$1,126,400			Answer
Cash Flows from Operating Activities
Net income		Answer	Answer
Depreciation expense		Answer	Answer
AnswerAmortization of bond premiumDividends paidExtinguishment of bonds payableIncrease in retained earningsProceeds from sale of plant assetsPurchase of plant assetsPurchase of plant assets with stock		Answer	Answer
Gain on sale of fixed assets		Answer	Answer
Increase in inventory		Answer	Answer
Decrease in accounts payable		Answer	Answer
Decrease in salaries payable		Answer	Answer
Increase in income taxes payable		Answer	Answer
Cash Flows from Investing Activities
Purchase of long-term investments		Answer	Answer
AnswerAmortization of bond premiumDividends paidExtinguishment of bonds payableIncrease in retained earningsProceeds from sale of plant assetsPurchase of plant assetsPurchase of plant assets with stock		Answer	Answer
Cash Flows from Financing Activities
AnswerAmortization of bond premiumDividends paidExtinguishment of bonds payableIncrease in retained earningsProceeds from sale of plant assetsPurchase of plant assetsPurchase of plant assets with stock		Answer	Answer
Issuance of stock		Answer	Answer
Net cash and cash equivalents increase		Answer	Answer
Total		Answer	Answer