in 2010 myers declared and paid a cash dividend of 9 000 326634

2012 2011 65000 40000 25000 55000 48000 7000 37000 22000 15000 17000 20000 3000 36000 20000 16000 100000 100000 0 17000 8000 9000 58000 80000 22000 17000 20000 3000 334000 302000 32000 45000 39000 6000 0 100000 200000 100000 100000 89000 63000 26000 334000 302000 32000 2010 400000 190000 210000 141000 15000 54000 3000 51000 16000 35000 35000 15000 15000 7000 6000 3000 3000 5000 40000 16000 16000 100000 9000 91000 115000 25000 140000 Cash Accounts Receivable Inventory Prepaid Expenses Land Building Equipment Accumulated Depreciation Equipment Assets Liabilities Accounts payable Bonds payable Common Stock Retained Earnings Total STATEMENT OF CASH FLOWS Accummulated depreciation Building Presented below is information related to the operations of Myers Corporation. Sales Cost of goods sold Gross profit Depreciation expense Other operating expenses Income from operations Loss on equipment sale Income before income taxes Income tax expense Net income Additional information: (a) In 2010, Myers declared and paid a cash dividend of $9,000. (b) The company converted $100,000 of bonds into common stock. Instructions: Prepare an indirect cash flow statement on the “Cash Flow Statement” tab below (d) Land was acquired for cash. (c) Equipment with a cost of $22,000 and a book value of $13,000 was sold for $10,000. Difference Increase Decrease same B MYERS CORP Statement of cash flows FYE 12/31/2012 Cash flows from operating activities Net Income Adjustments to reconcile net income to net cash provided by operating act Depreciation expense Increase in inventory Increase in A/R Increase in A/P Decrease in prepaid expenses Loss on sale of equip Net cash provided by operating act Cash flows from investing act Purchased land Net cash used by investing act Cash flows from financing act Issuance of com stock Payment of cash dividends Net cash provided by…