Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

Exercise 20

Statement of Cash Flows, Worksheet
The following balance sheets were taken from the records of Blalock Company:

Additional transactions were as follows:
a. Sold equipment costing $12,000 with accumulated depreciation of $9,000 for $2,000.
b. Retired bonds at a price of $60,000 on December 31.
c. Earned net income for the year of $68,000; paid cash dividends of $20,000.
Refer to the information for Blalock Company above.
Required:
Prepare a statement of cash flows using the worksheet approach. Use the indirect method to prepare the statement.