The Bodner Corporation had the following balance sheets for 19A and 19B:
|
12/31/19A
|
12/31/19B
|
|
Cash
|
$ 48,000
|
$ 77,000
|
|
Accounts Receivable
|
66,000
|
60,000
|
|
Inventory
|
112,000
|
100,000
|
|
Supplies
|
8,000
|
9,000
|
|
Buildings
|
240,000
|
312,000
|
|
Accumulated Depreciation
|
(41,000)
|
(66,000)
|
|
Patent
|
40,000
|
30,000
|
|
Total Assets
|
$473,000
|
$522,000
|
|
Accounts Payable
|
105,000
|
85,000
|
|
Expenses Payable
|
63,000
|
68,000
|
|
Long-term Notes Payable
|
70,000
|
-
|
|
Common Stock
|
-
|
100,000
|
|
Paid-in Capital in Excess of Par-Common
|
-
|
25,000
|
|
Preferred Stock
|
200,000
|
200,000
|
|
Retained Earnings
|
35,000
|
44,000
|
|
Total Liabilities and Stockholders' Equity
|
$473,000
|
$522,000
|
The only entries in the Retained Earnings account were for net income and dividends of $29,000 and $20,000, respectively. No buildings were sold during the period and stock was issued for cash.
Prepare a statement of cash flows using the indirect approach.