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Question
The following information is available for Mehring Corporation for the year ended December 31, 2012:
Collection of principal on long-term loan to a supplier $35,000
Acquisition of equipment for cash 10,000
Proceeds from the sale of long-term investment at book value 22,000
Issuance of common stock for cash 20,000
Depreciation expense 25,000
Redemption of bonds payable at carrying (book) value 34,000
Payment of cash dividends 14,000
Net income 30,000
Purchase of land by issuing bonds payable 40,000
In addition, the following information is available from the comparative balance sheet for Mehring at the end of 2012 and 2011:
Instructions
Prepare Mehring's statement of cash flows for the year ended December 31, 2012, using the indirect method.
Answer
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