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The comparative balance sheets of Delly Corp. Inc. at the end of the two most recent years appear below urrent Year Prior Year nc./Dec. Assets:
The comparative balance sheets of Delly Corp. Inc. at the end of the two most recent years appear below urrent Year Prior Year nc./Dec. Assets: Cash Accounts receivable Equipment Less: Accum. Depreciation (34.000 S 90,000 182,000 78,000 S 26,000 186,000 44,000 (22.000) S 234,000 S 64,000 Inc 4,000 Dec 34,000 Inc 12,000 Inc Total S 316,000 Accounts payable Common stock Retained earnings Liabilities and Stockholders' Equity: S 40,000 200,000 76,000 S 316,000 S 50,000 160,000 24,000 S 234,000 S 10,000 Dec 40,000 Inc 42,000 Inc Total During the current year, net income of $98,000 was reported and dividends of $46,000 were paid. Also, new equipment was purchased and none was sold. Required: Prepare a statement of cash flows for the current year. Use the Indirect Method, as illustrated in class
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