The Bodner Corporation had the following balance sheets for 19A and 19B:
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The Bodner Corporation had the following balance sheets for 19A and 19B:
12/31/19A
12/31/19B
Cash
48,000
77,000
Accounts Receivable
66,000
60,000
Inventory
112,000
100,000
Supplies
8,000
9,000
Buildings
240,000
312,000
Accumulated Depreciation
(41,000)
(66,000)
Patent
40,000
30,000
Total Assets
$473,000
$522,000
Accounts Payable
105,000
85,000
Expenses Payable
63,000
68,000
Long-term Notes Payable
70,000
Common Stock
100,000
Paid-in Capital in Excess of Par—Common
25,000
Preferred Stock
200,000
200,000
Retained Earnings
35,000
44,000
Total Liabilities and Stockholders’ Equity
$473,000
$522,000
The only entries in the Retained Earnings account were for net income and dividends of $29,000
and $20,000, respectively. No buildings were sold during the period and stock was issued for cash.
Prepare a statement of cash flows using the indirect approach.
