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The following information is available for the Ehrens Corporation: Ehrens Corporation Balance Sheets At December 31 2010 2009 Assets: $ 24,640 $ 23,040 32,180 29,400

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The following information is available for the Ehrens Corporation: Ehrens Corporation Balance Sheets At December 31 2010 2009 Assets: $ 24,640 $ 23,040 32,180 29,400 73,125 61,710 Cas Accounts receivable Merchandise inventorye 55,900 56,400 175,500 145,500 33.30) (31.200) 327.795 $284.850 Equipment Accumulated depreciation... Total asset.s.. Accounts payable Income taxes payable Bonds payable $ 65,000 40,380 10,725 10,200 -48250-66.000 $124,475 $116,580 Total liabilities 117,000 96,000 9,000 73.32063.270 203.320 $168.270 27292 S284829 Common stock Contributed capital in excess of par Retained earnings.. 13,000 Total equity Total liabilities and equity Ehrens Corporation Income Statement For Year Ended December 31, 2010 $240,000 Sales Cost of goods sold Depreciation expense Okher operating e Interest expense Other gains (losses) $80,900 29.400 48,000 (8.400) 71,300 Loss on sale of equipment Income before taxes. Income taxes expense Net income Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old equipment with an original cost of $37,550 was sold for $2,100 cash. (3) New equipment was purchased for $67,550 cash. (4) Cash dividends of $33,600 were paid. (5) Additional shares of stock were issued for cash. Prepare a complete statement of cash flows for the 2010 calendar year using the indirect method. (a) Received from sales of long-term investments: $56,400-$55,900 $500

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