Use the following information to prepare Pumpkins Statement of Cash Flows for 2016. Pumpkins Inc. Comparative Balance Sheets 12/31/2015 12/31/2016 Assets: Cash 357,000 1,357,800 AR 100,000 90,000 Prepaid Insurance 15,000 12,000 Inventory 180,000 205,000 Investments 50,000 42,000 Truck 100,000 114,500 Accum. Depreciation -Truck (52,000) (62,800) Equipment 1,537,500 1,241,000 Accum.Depreciation - Equip (580,000) (476,000) Intangibles 40,000 90,000 Accumulated Amortization (12,000) (17,000) Land 600,000 511,000 Totals 2,335,500 3,107,500 Liabilities and Shareholders Equity: Accounts Payable 200,000 187,000 Accrued Expenses Payable 60,000 79,000 Dividends Payable 45,000 39,000 Short Term Notes Payable 30,000 22,500 Income Tax Payable 72,500 85,000 Unearned Revenue 87,000 43,000 Bonds Payable Long Term 450,000 750,000 Common Stock 57,000 120,000 APIC - Common Stock 293,000 390,000 Preferred Stock 30,000 35,000 APIC - Preferred Stock 100,000 130,000 Retained Earnings 911,000 1,227,000 Totals 2,335,500 3,107,500 Additional Information that happened in 2016: A. Pumpkins had a net income of $450,000. The company only uses cash dividends. B. Pumpkins bought $19,000 worth of investments and sold other investments for a gain of $5,000. C. Pumpkins purchased a truck for $47,500 by paying $30,000 and financing the rest with a short term notes payable. Pumpkins recorded depreciation expense on trucks for $20,650 and sold a truck for a loss of $4,650. D. Pumpkins sold Equipment with an original historical cost of $706,500 and accumulated depreciation of $281,000 for a gain of $95,000. E. When new equipment is purchased, Pumpkins pays for 20% with cash and finances the remaining 80% by issuing a long term bond payable. F. Pumpkins amortization expense was $9,000. Pumpkins sold a patent this year for $23,300 cash Pumpkin had originally bought the patent for $20,000. Pumpkins purchased a different patent and paid for it using 40% cash and issuing 10% worth of Common Stock and 50% in Additional Paid in Capital Common Stock. G. Sold land for a $201,500 cash, which generated a loss of $43,500. Pumpkins pays for land purchases with cash. H. Pumpkins settled $200,000 of its bond payable with cash.

Prepare a statement of cash flows using the indirect method.

4. Use the following information to prepare kins Statement of Cash Flows for 2016 Pumpkins Inc. Comparative Balance Sheets 12/31/2015 12/31/2016 Assets: Cash AR 357,000 100 15,000 180,000 12,000 205,000 42,000 Inve estments Truck 100,000 ciation 537.500 (580,000) 40.000 1.241,000 (476,000) 90,000 ment Accum Depreciation E Accumulated Amortization Totals Liabilities and Shareholders' Equity: 600,000 335 5 counts Payable Accrued Payable 79,000 39,000 60.000 45 30,000 72.500 7,000 450,000 85,000 43,000 750,000 0,000 390,000 35,000 130,000 1,227,000 Income Tax Favable Uneamed Revenue Bonds Pavable Long Termm APIC Common Stock Preferred Stock APIC Preferred Stock Retained Eamings Totals 293,000 30,000 100,000 911,000 Additional Information that happened in 2016 A. B. C. Pumpkins had a net income of $450,000. The company only uses cash dividends. Pumpkins bought $19,000 worth of investments and sold other investments for a gain of $5,000. Pumpkins purchased a truck for $47,500 by paying $30,000 and financing the rest with a short term notes payable. Pumpkins recorded depreciation expense on trucks for $20,650 and sold a truck for a loss of $4,650 D. Pumpkins sold Equipment with an original historical cost of $706,500 and accumulated depreciation E. When new equipment is purchased Purmpkins pays for 20% with cash and finances the remaining F. Pumpkins amortization expense was $9,000. Pumpkins sold a patent this year for $23,300 cash of $281,000 for a gain of S95,000 80% by issuing a long term bond payable Pumpkin had originally bought the patent for $20,000. Pumpkins purchased a different patent and paid for it using 40% cash and issuing 10% worth of Common Stock and 50% in Additional Paid in Capital -Common Stock. Sold land for a $201,500 cash, which generated a loss of $43,500. Pumpkins pays for land purchases with cash. Pumpkins settled $200,000 of its bond payable with cash. G. H