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ACES Problem 23-2 The comparative balance sheets for kingbird Corporation show the following information. 20) Cash o question with available attempts. Inventory Available-for-sale debt investments dy Buildings Equipment Patents December 31 2017 2016 $33,400 $12,900 12,300 10,100 12,000 9,000 -0 3,000 -0- 29,600 45,200 19,900 4,900 6,400 $107,800 $90,900 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation--building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2,000 -0- 4,900 -0- 2,900 31,000 43,000 21,000 $107,800 $4,600 4,500 6,100 3,000 4,900 4,100 25,000 33,000 5,700 $90,900 Additional data related to 2017 are as follows. 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500. m/edugen/shared/assignment/test/aglist.uni?id-as le was paid by issuing common stock. Additional data related to 2017 are as follows 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500 2. $10,000 of the long-term note payable was paid by issuing common stock 3. Cash dividends paid were $4.900. 4. On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,100 (net of $1,900 taxes). 5. Investments (available for sale) were sold at $1,600 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $1,900 and income taxes of $6,500 were paid in cash Prepare a statement of cash lows using the Indirect method. Flood damage is unusual and infrequent in that part of the country. (Show amounts that decrease cashion - sign .g. -15,000 or in parenthesis eg. (15,000).) KINGBIRD CORPORATION Statement of Cash Flows

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