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use excel for this case RAMONES, INC BALANCE SHEETS DECEMBER 31 2014 2013 ASSETS Cash Accounts receivable Inventories Prepaid expenses Investments Plant assets Accumulated depreciation

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use excel for this case
RAMONES, INC BALANCE SHEETS DECEMBER 31 2014 2013 ASSETS Cash Accounts receivable Inventories Prepaid expenses Investments Plant assets Accumulated depreciation 97,800 95,800 112,500 18,400 113,000 270,000 (50,000) 48,400 33,000 102,850 6,000 94,000 242,500 (52,000) TOTAL ASSETS $ 657,500 $ 474,750 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable Accrued expenses payable Binds payable Common stock Retained earnings 102,000 16,500 85,000 220,000 234,000 67,300 17,000 110,000 175,000 105,450 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 657,500 $ 474,750 RAMONES, INC INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 $ 392,780 135,460 257,320 $ 12,410 46,500 Sales Cost of goods sold Gross profit Operating Expenses Selling. General, and Administrative Depreciation Operating Income Other Income and Expense Interest expense Loss on sale of plant assets Profit Before Tax Income tax 58,910 198,410 4,730 7,500 186,180 7,280 Net Income $ 178,900 Additional information: 1 New plant assets costing $85,000 were purchased for cash during 2014 2 Old plant assets having an original cost of $57,500, were sold for $1,500 cash in 2014. 3 Bonds matured during 2014 and were paid off at face value for cash. 4 A cash dividend of $50,350 was declared and paid during 2014 Required: Prepare a statement of cash flows using the indirect method

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