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Cerritos Manufacturing
Comparitive Balance Sheet
December 31, 2010 and December 31, 2009
	2009		2010
Assets
Cash	112,500		350,000
Accounts Receivable	350,000		281,250
Inventories	125,000		150,000
Plant and Equipment	1,000,000		1,025,000
Accumulated Depreciation	(500,000)		(525,000)
Land	500,000		718,750
Total Assets	1,587,500		2,000,000
Liabilites and Equity
Accounts Payable	300,000		237,500
Mortgage Payable	-		250,000
Common Stock	75,000		75,000
Contributed Capital in excess of Par	300,000		300,000
Retained Earnings	912,500		1,137,500
Total Liabilities and Equity	1,587,500		2,000,000
Income Statement
For the Year Ended December 31, 2010
Revenues	1,200,000
Gain on Sale of Equipment	50,000
Less: COGS	(640,000)
Less: Depreciation Expense	(125,000)
Less: Interest Expense	(35,000)
Net Income	450,000
Other Information:
a) Equipment with a book value of $125,000 was sold for $175,000
(original Cost was 225,000)
b) Dividends of $225,000 were declared and paid.
Prepare a statement of cash flows
			-

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