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For NEO: Here are comparative balance sheets for Tandem

Resolved Question:

For NEO:

Here are comparative balance sheets for Tandem Company.

TANDEM COMPANY
Comparative Balance Sheets
December 31

Assets
2012


2011

Cash $72,678 $21,757
Accounts receivable 86,209 75,947
Inventories 170,276 188,921
Land 74,520 100,400
Equipment 260,530 200,110
Accumulated depreciation
(65,788)


(32,427)

Total
$598,425


$554,708


Liabilities and Stockholders' Equity
Accounts payable $39,130 $47,323
Bonds payable 149,080 203,950
Common stock ($1 par) 215,920 174,810
Retained earnings
194,295


128,625

Total
$598,425


$554,708


Additional information:

Net income for 2012 was $104,970.
Cash dividends of $39,300 were declared and paid.
Bonds payable amounting to $54,870 were redeemed for cash $54,870.
Common stock was issued for $41,110 cash.
No equipment was sold during 2012 but land was sold at cost.
Instructions

Prepare a statement of cash flows for 2012 using the indirect method.
Submitted: 5 years ago.
Category: Homework
Expert:  Neo replied 5 years ago.
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