(Preparing a cash flow statement, LO 3, 4) Use the following information to prepare a cash flow statement for Maynooth Inc. for the year ended December 31, 2005.

Assume that income statement amounts have already been closed to retained earnings. Also assume that dividends of $100,000 were paid during 2006.

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Maynooth Inc. Account Balances On December 31, 2004 and 2005 2005 2004 Cash $ 47,000 $ 62,000 Accounts receivable 59,000 69,000 Inventory 98,000 87,000 Capital assets 248,000 210,000 Accumulated amortization (112,000) (77,000) Accounts payable 63,000 70,000 Long-term debt 158,000 110,000 Capital stock 75,000 70,000 Retained earnings 44,000 101,000 Revenue 498,000 Cost of goods sold 241,000 Other expenses (all cash) 179,000 Amortization 35,000