Verizon 8:49 AM 73%) Cash Flow.pdf PDF 23 KB Problem 2: (30 pts) Based on the following information, prepare tbe statement of cash flows using the direct method Smo Company Balance Sheet Current assets: $14,200 Cash Accounts receivable 26,900 87,.200 $8,900 1,700 3,600) 83,600 1,900 Interest Receivable Prepaid expenses 600 Long-term assets 53,500 49,400 4,100 60,0 29,000 Plant & equipment (net) Total Assets 231,400 Current liabilities Accounts payable Interest payable Other apcruals 31,400 2,600 4,900 16,000 (2300) 13,700 ,900 3,100 Tax payable 7,700 Salary payable Long-term liabilities Notes payable 75,000 00,000 (25,000) Stockholder's equity Common stock (no par) 64,700 Retained carnings 45,800 Total Liabilities and Equity 231400 Income Statement For the Year Ended December 31, 2010 Interest Revenue Total Revenue Cost of goods sold 4,000 27,800 Salary expense Other operating expenses Interest expense Tax expense 11,600 Total expense Net Income Email Save