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.