Here is a comparative balance sheet for Padgett Company: PADGETT COMPANY Comparative Balance Sheet December 31 Assets 2012 2011 Cash $39,420 $11,880 Accounts receivable 45,900 41,040 Inventories 91,800 102,060 Land 40,500 54,000 Equipment 140,400 108,000 Accumulated Depreciation (35,640) (17,280) Total $322,380 $299,700 Liabilities and Stockholders' equity Accounts payable $21,060 $25,380 Bonds payable 81,000 108,000 Common stock ($1 par) 116,640 93,960 Retained earnings 103,680 72,360 Total $322,380 $299,700 Additional information: Net income for 2012 was $55,620. Cash dividends of $24,300 were declared and paid. Bonds payable amounting to $27,000 were redeemed for cash $27,000. Common stock was issued for $22,680 cash.

No equipment was sold during 2012. (a) Complete the statement of cash flows for 2012 using the indirect method. (If the amount reduces cash flow put either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1.) PADGETT COMPANY Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities Net income $ Adjustments to reconcile net income to net cash provided by operating activities $ Net cash by operating activities Cash flows from investing activities Net cash by investing activities Cash flows from financing activities Net cash by financing activities Net in cash Cash at beginning of period Cash at end of period $ (b) Compute these cash-basis ratios: (Round each answer to 2 decimal places, e.g. 2.10.) Current cash debt coverage times Cash debt coverage times.