(Answered) Problem - prepare statement of cash flows for senoro co for

Accounting

Problem - Prepare Statement of Cash Flows for Senoro Co. for period ending Dec 31

Comparative Balance Sheet

Assets	2011	2010
Cash	316000	169000
Accounts Receivable	80000	66000
Inventory	150000	135000
Prepaid Insurance	6000	12000
Buildings	250000	200000
Equipment	550000	450000
Accumulated Depreciation	(80000)	(110000)
	1272000	532000

Liabilities and Stockholders Equity	2011	2010
Accounts Payable	22000	12000
Bonds Payable	100000	100000
Common Stock (1$ par)	700000	550000
Retained Earnings	450000	260000

Additional information:

1. Net income for 2011 is $215000.

2. Depreciation Expense for 2011 is $30000.

3. Senoro sold equipment which cost 75000 and had accumulated depreciation at 25000 cash. The sale resulted in a 10000 gain.

4. Purchase building for 50000 cash.

5. Purchase equipment for 175000 cash.

6. Issued $1 par Common Stock for 150000 cash.

7. Paid Cash Dividends in 2011 of 25000.

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