Exercise - Chekov Corporation's balance sheet at the end of 2011 included the following items.
Current assets $237,244 Current liabilities $152,244
Land 32,514 Bonds payable 102,244
Buildings 122,244 Common stock 182,514
Equipment 92,514 Retained earnings 46,514
Accum. depr.-buildings (32,244 ) Total 483,516
Accum. depr.-equipment (11,000 )
Patents 42,244
Total $483,516
The following information is available for 2012.
1. Net income was $58,089.
2. Equipment (cost $22,244 and accumulated depreciation $10,244) was sold for $11,244.
3. Depreciation expense was $6,244 on the building and $11,244 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $25,000. Current liabilities increased by $15,244.
6. An addition to the building was completed at a cost of $29,244.
7. A long-term investment in stock was purchased for $16,000.
8. Bonds payable of $52,514 were issued.
9. Cash dividends of $25,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.
(a) Prepare a statement of cash flows for 2012. (Show only totals for current assets and current liabilities.)