The comparative balance sheet of James Automotive Co. for December 31, 2010 and 2009 is as follows: Dec 31, 2010 Dec 31, 2009 Assets Cash 127,000 111,500 Accounts receivable (net) 74,000 70,200 Inventories 110,200 115,000 Investments - 61,200 Land 103,000 - Equipment 220,500 173,400 Accumulated Depreciation (43,000) (38,200) Total 591,700 493,100 Liabilities and Stockholders' Equity Accounts payable 105,400 103,200 Accrued expenses 9,700 12,100 Dividends payable 13,000 10,000 Common stock$10 par 60,000 50,000 Paid in capital in excess of par - common stock 210,000 120,000 Retained earnings 193,600 197,800 Total 591,700 493,100 The following additional information was taken from the records of ABC. Co.: a. Equipment and land were acquired for cash b. Equipment which cost 70,000 and on which accumulated depreciation totaled 9,000 on the date of the sale, was sold for 57,000 during the year c. The investments were sold for 70,000 cash. d. The common stock was issued for cash. e. There was a 40,800 credit to retained earnings for net income f. There was a 45,000 debit to retained earnings for cash dividends declared ******************FILL OUT THE STATEMENT OF CASH FLOW************* *********ALSO Fill in the yellow underlined spaces with the appropriate word, Gain, Loss, Increase or Decrease***** James Automotive Co. Statement of Cash Flows For the Year Ended December 31, 2010 Cash flows from operating activities: Net Income, per income statement Adjustments to reconcile net income to net flow from operating activities: Depreciation _______________________________________ _______________________________________ Changes in current operating assets and liabilities: ____________________________________ ____________________________________ ____________________________________ ____________________________________ Net cash flow from operating activities Cash flows from investing activities: Cash received from sale of investments Cash received from sale of equipment Less: Cash paid for purchase of land Cash paid for purchase of equipment Net cash flow used for investing activities Cash flows from financing activities: Cash received from sale of common stock Less: Cash paid for dividends Net cash flows provided by financing activities Increase in cash Cash at the beginning of the year Cash at the end of the year