Preparation of a Statement of Cash Flows)
Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31.
Cash $157,000 $78,000
Accounts receivable 180,000 185,000
Investments 52,000 74,000
Equipment 298,000 240,000
Less: Accumulated depreciation (106,000) (89,000)
Current liabilities 134,000 151,000
Capital stock 160,000 160,000
Retained earnings 287,000 177,000
Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000 and net income was $160,000.
(a) Prepare a statement of cash flows for 2010 for Sondergaard Corporation. (List multiple entries from the largest positive to the smallest positive amount followed by the most negative to the least negative amount,