Statement of Cash FlowsAc€??Indirect Method
The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2014 and 2013, is shown as follows:
| Â |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Assets |
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| Cash |
$274,800 |
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$259,160 |
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| Accounts receivable (net) |
99,550 |
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93,080 |
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| Inventories |
281,030 |
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275,590 |
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| Investments |
0 |
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106,770 |
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| Land |
144,140 |
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0 |
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| Equipment |
310,060 |
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243,650 |
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| Accumulated depreciation-equipment |
(72,590) |
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(65,700) |
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| Â |
Total |
$1,036,990 |
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$912,550 |
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| Â |
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| Liabilities and Stockholders' Equity |
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| Accounts payable (merchandise creditors) |
$187,700 |
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$179,770 |
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| Accrued expenses payable (operating expenses) |
18,670 |
 |
23,730 |
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| Dividends payable |
10,370 |
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8,210 |
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| Common stock, $10 par |
56,000 |
 |
44,710 |
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| Paid-in capital in excess of par-common stock |
210,510 |
 |
124,110 |
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| Retained earnings |
553,740 |
 |
532,020 |
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| Â |
Total |
$1,036,990 |
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$912,550 |
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The following additional information was taken from the records:
The investments were sold for $124,920 cash.
Equipment and land were acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $64,610 credit to Retained Earnings for net income.
There was a $42,890 debit to Retained Earnings for cash dividends declared.
Required:
| Â |
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Hint(s) 
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Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.
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Mavenir Technologies Inc.
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For the Year Ended December 31, 2014
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Cash flows from operating activities:
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Adjustments to reconcile net income to net cash flow from operating activities:
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Changes in current operating assets and liabilities:
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Net cash flow from operating activities
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Cash flows from investing activities:
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Net cash flow used for investing activities
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Cash flows from financing activities:
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Net cash flow provided by financing activities
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Cash at beginning of the year
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