Olive Corporation manufactures food processing equipment.Use Olive Corporation's two most recent balance sheets and most recent income statement to prepare a statement of cash flows for 2010.The company paid dividends of $6,250 during 2010.

\begin{array}{l}\begin{array}{lll}\text {Olive Corporation}\\\text {Balance Sheet}\\ \text {As of December 31 ,}\\ \text {Assets:}\\ \text {Cash and cash equivalents}\\ \text {Accounts Receivable}\\ \text {Inventory}\\ \text {Current Assets}\\\\ \text {Equipment}\\ \text {Less: Accumulated depreciation}\\ \text {Land}\\\\ \text {Total assets}\\\end{array}\begin{array}{lll}\\ \\2010 \\\\\$ 41,900 \\24,000 \\\underline{30,000} \\ 95,900 \\\\42,000 \\-14,000 \\25,000\\\\\$148,900\end{array}\begin{array}{lll}\\ \\2009\\\\\$ 25,000 \\6,250 \\\underline{36,000} \\ 67,250\\\\38,500 \\-7,000 \\10,000\\\\\$ 108,750 \end{array}\end{array}

\begin{array}{l}\begin{array}{lll} \text {Liabilities}\\ \text {Accounts Payable}\\ \text {Accrued Salaries Payable}\\ \text {Rent Expense Payable}\\ \text {Income Tax Payable}\\ \text {Current Liabilities}\\\\ \text {Long-term note payable}\\ \text {Total Liabilities}\\\\ \text {Stockholders' Equity:}\\ \text {Common stock}\\ \text {Retained earnings}\\\\\text { Total liabilities and stockholders' equity }\end{array}\begin{array}{lll}\\\$ 17,500 \\5,500 \\2,200 \\\underline{6,900} \\32,100 \\\\ \underline{50,000 }\\ 82,100\\\\ \\42,000\\24,800\\\\\$148,900\end{array}\begin{array}{lll}\\\$ 22,500 \\8,000 \\1,000 \\\underline{4,000 }\\ 35,500 \\\\ \underline{30,000 }\\ 65,500\\\\ \\30,000\\13,250\\\\\$108,750\end{array}\end{array}

Olive Warporation
Income statement
For the year ended December 31, 2010

\begin{array}{l}\begin{array}{lll}\text { Revenues}\\\text { Cost of goods sold}\\\text { Gross Profit}\\\underline{\text { Operating Expenses}}\\\text { Depreciation expense}\\\text { Salary expense}\\\text { Insurance Expense}\\\text { Rent Expense}\\\text { Interest Expense}\\\text { Total Operating Expenses}\\\text { Income from Operations}\\\text { Income Tax Expense}\\\text { Net income }\end{array}\begin{array}{lll}\$ 147,000 \\-84,000 \\&\$ 63,000\\\\-7,000 \\-14,600 \\-2,500 \\-10,000 \\\underline{-4,200} \\&\underline{-38,300}\\&24,700\\&\underline{-6,900}\\&\underline{\$ 17800}\\\end{array}\end{array}

Clarion Industries Manufactures Computer Equipment and Provides Financing for Purchases

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