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The comparative balance sheet of Mavenir Technologies Inc. for December 31,2010 and 2009, is shown as follows: The following additional information was taken from the
The comparative balance sheet of Mavenir Technologies Inc. for December 31,2010 and 2009, is shown as follows: The following additional information was taken from the records: The investments were sold for $140,000 cash. Equipment and land were acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $75,520 credit to Retained Earnings for net income. There was a $48,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities
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