The balance sheets for Kinder Company showed the following information. Additional information concerning transactions and events during 2018 are presented below. Kinder Company Balance Sheet December 3 Cash Accounts receivable (net) Inventory Long-term investments Property, plant & equipment Accumulated depreciation $ 10,200 20,300 42,000 15,000 150,000 30 43,300 35,000 236,500 308,000 $212,500 Accounts payable Accrued liabilities Long-term notes payable Common stock Retained earnings $ 17,000 26,500 17,000 50,000 90,000 21,000 70,000 130,000 $308,000 $212.500 Additional data: 1. Net income for the year 2018, $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 Using the format provided on the next page, prepare a statement of cash flows (using the indirect method) for 2018 for Kinder Company.
Kinder Company Statement of Cash Flows For the Year Ended December 31, 2018 Increase (Decrease) in Cash Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided (used) by operating activities Cash flows from investing activities Net cash provided (used) by investing activities Cash flows from financing activities Net cash provided (used) by financing activities Net increase (decrease) in cash Cash, January 1, 2018 Cash, December 31, 2018
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