The Following Information for Wilbur Company Is Available at December

Essay

The following information for Wilbur Company is available at December 31, 2011, and for the year then ending:

The following information is available for specific accounts and transactions:
1. On February 2, 2011, Wilbur issued a 10 percent stock dividend to shareholders of record on January 15, 2011. Market price per share of the common stock on February 2, 2011, was $15.
2. On March 1, 2011, Wilbur issued 3,800 shares of common stock for land. The common stock had a current market value of approximately $40,000 on March 1, 2011.
3. On April 15, 2011, Wilbur repurchased its long-term bonds payable with a face value of $50,000 for cash.
4. On June 30, 2011, Wilbur sold for $19,000 cash equipment having a book value of $23,000 and an original cost of $53,000.
5. On September 30, 2011, Wilbur declared and paid a 4 cent per share cash dividend to shareholders of record on August 1, 2011.
6. On October 1, 2011, Wilbur purchased land for $85,000 cash.
Required:
Prepare a statement of cash flows for Wilbur Company for the year ending December 31, 2011, using the indirect method.