The balance sheets for Kinder Company showed the following information. Additional information concerning transactions and...
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The balance sheets for Kinder Company showed the following information. Additional information concerning transactions and events during 2021 are presented below. Kinder Company Balance Sheet December 31 2021 2020 Cash $ 30,900 $ 10,200 43,300 20,300 Accounts receivable (net) 35,000 Inventory Q 0 236,500 Long-term investments Property, plant & equipment Accumulated depreciation 42,000 15,000 150,000 125.000) $212.500 (37.700) $308.000 $ 17,000 $ 26,500 Accounts payable Accrued liabilities 21,000 17,000 Long-term notes payable 70,000 50,000 Common stock 130,000 90,000 Retained earnings 70.000 29.000 $308.000 $212.500 Additional data: 1. Net income for the year 2021, $61,000. 2. Depreciation on plant assets for the year. $12.700. 3. Sold the long-term investments for $33,000 (assume gain or loss is ordinary). 4. Paid dividends of $20,000. 5. Purchased machinery costing $26,500, paid cash. 6. Purchased machinery and gave a $60,000 long-term note payable. 7. Paid a $40,000 long-term note payable by issuing common stock. Instructions Prepare a statement of cash flows (using the indirect method) for 2021 for Kinder Company
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