The 2012 comparative balance sheet and income statement of Appleton Group, Inc., follow. Appleton had no noncash investing and financing transactions during 2012.

Requirement
1. Prepare the spreadsheet for the 2012 statement of cash flows. Format cash flows from operating activities by the indirectmethod.

Transcribed Image Text:

APPLETON GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011 Increase 2012 2011 (Decrease) Current assets: $ 9,300 S 15,300 $ (6,000) Cash and cash cquivalents Accounts receivable 42,000 43,200 (1,200) 93,700 Inventories 97,100 3,400 Plant assets: Land 41,100 16,000 25,100 Equipment, net 101,200 94,300 6,900 $ 290,700 S 262,500 $ 28,200 Total assets Current liabilities: $ 25,600 S 26,600 $ (1,000) Accounts payable Accrued liabilities 24,000 22,800 1,200 Long-term liabilitics: Notes payable Stockholders' cquity: 46,000 62,000 (16,000) Common stock 140,300 131,400 8,900 Retained carnings 54,800 19,700 35,100 $ 290,700 $ 262,500 $ 28,200 Total liabilities and stockholders' cquity