Blank Memorial Hospital
Comparative Balance Sheet
2003 2004
Cash 100,000 619,000
Accounts Receivable 120,000 135,000
Inventory 784,000 760,000
Prepaid Expenses 350,700 363,000
Equipment 845,000 860,000
Accumulated Depreciation 0 13,000
Accounts Payable 100,500 110,200
Salaries Payable 85,000 73,000
Common Stock 1,594,200 1,694,200
Retained Earnings 420,000 846,600
Other Information
1) Net Income was $500,600
2) Depreciation was $13,000
3) Dividends paid $7,400
Prepare a Statement of Cash Flows in good form. Prove to the CFO that you have completed it correctly.