Here are comparative balance sheets for Tom Jones Company.
|TOM JONES COMPANY|
|Comparative Balance Sheets|
|Liabilities and Stockholders’ Equity|
|Common stock ($1 par)||214,140||175,750|
- Net income for 2010 was $101,690, depreciation was $33,663.
- Cash dividends of $39,487 were declared and paid.
- Bonds payable amounting to $51,700 were redeemed for cash $51,700.
- Common stock was issued for $38,390 cash.
- Land was sold for $25,230 cash, there was no loss.
- Equipment was purchased for $58,960 cash.
Prepare a statement of cash flows for 2010 using the indirect method. Use the template provided on the next page.
|TOM JONES COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2010
Cash flows from operating activities
|Adjustments to reconcile net income to
net cash provided by operating activities:
| Net cash provided by operating activities
Cash flows from investing activities
|Net cash provided by investing activities|
Cash flows from financing activities
|Net cash used by financing activities|
|Net Increase in cash|
|Cash at beginning of period|
|Cash at end of period|