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The data below is from the accounting records of Real Time Company, Inc. Cash Current assets other than cash Long-term investments Plant assets Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings December 31, 2015 $15,000 85,000 10,000 335,000 $445,000 $20,000 40,000 75,000 254,000 56,000 $445,000 December 31, 2014 $8,000 60,000 53,000 215,000 $336,000 $40,000 22,000 0 254,000 20,000 $336,000 Additional information below was obtained from the books and records: 1 In 2015, the Company sold for 34000 available-for-sale investments carried at a cost of 43000 on December 31, 2015. The loss was incorrectly charged directly to Retained earnings. 2 In 2015, the Company sold for 8000 plants assets that cost 50000 and were 80% depreciated. The loss was incorrectly charged directly to Retained earnings. 3 Net income as reported for the income statement for the year ended December 31, 2015 was 57000 4 The Company paid cash dividends totaling 10000 for the year ended December 31, 2015. 5 Depreciation expense charged to the income statement for the year ended December 31, 2015 was 20000 Required: Prepare a statement of cash flows for the year 2015 using the indirect method using proper formats and headings. Use Excel to prepare a worksheet linking the above information you are given to each line item you include in your statement of cash flows. In other words, you must use an Excel function to either link or calculate every number presented in every part of your SCF. You can either do the statement of cash flows directly below here or do it in a separate Tab (Sheet) on this Excel fileStep by Step Solution
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