Visual Inspection The following changes in account balances and other information for 2007 were taken from the accounting records of the Noble Company:
|
Net Changes for 2007 |
||
|
Debit |
Credit |
|
|
Cash |
$1,900 |
$2,000 |
|
Accounts receivable |
||
|
Inventory |
2,400 |
|
|
Land |
1,700 |
|
|
Buildings and equipment |
23,000 |
|
|
Accumulated depreciation |
4,500 |
|
|
Accounts payable |
1,600 |
|
|
Salaries payable |
600 |
|
|
Bonds payable |
5,000 |
|
|
Common stock, no par |
3,000 |
|
|
Retained earnings |
5,300 |
|
|
$25,500 |
$25,500 |
|
Other information: Net income was $9,900. Dividends were declared and paid. Land was sold for $1,700; a building was purchased for $23,000. No land was purchased and no buildings and equipment were sold. Bonds payable were issued at the end of the year. Two hundred shares of stock were issued for $15 per share. The beginning cash balance was $4,800.
Required
Using visual inspection, prepare a 2007 statement of cash flows for the Noble Company.