listed below are some balances of xyz inc as of

Question

Listed below are some balances of XYZ, Inc as of and for the year ended December 31, 2012 and 2013

Year ending	12/31/13
Revenue	2,000,000
Cost of goods sold	600,000
Rent expense	120,000
Insurance expense	60,000
Interest expense	50,000
Income tax expense	55,000
Payroll and benefit expense	200,000
Depreciation cost	50,000
Amortization cost	10,000
Gain on sale of investments	20,000
Loss on building fire	50,000
Interest income	25,000
General and administrative cost	180,000
Dividend income	25,000
As of	12/31/12	12/31/13
Accounts receivable	300,000	325,000
Interest receivable	10,000	8,000
Inventory	375,000	350,000
Accrued payroll and benefits	65,000	78,000
Accrued rent	10,000	10,000
Prepaid insurance	100,000	80,000
Accrued general and administrative	15,000	10,000
Accrued income tax	10,000	55,000
Cash	50,000	1,567,000

The following is additional information with regards XYZ during the year ending December 31, 2013:

Paid a dividend of $100,000

Made lease payments of $30,000

Purchased Ford Motor Stock for $25,000

Borrowed $600,000 under its line of credit

Purchased land for $50,000

Loaned $25,000 to the CEO

Sold patent for $30,000

Proceeds from sale of GE stock $100,000

Made Bond payments of $10,000

Repurchased Company stock for $15,000

Received insurance proceeds of $12,000 related to building fire

Issued $200,000 of XYZ common stock

Requirements:  Using the information above for XYZ Inc

(1)    Prepare a complete cash flow statement for the year ending December 31, 2013 using the indirect method

(2)    Prepare the operating section of the cash flow statement for the year ending December 31, 2013 using the direct method

(1)   The cash flow statements should be prepared in proper form and format including all relevant headings, sections, captions, titles, totals and subtotals. 

(2)   Solutions must be prepare using either excel or word.