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Jennifer Cainas Chapter 14 Review Statement of Cash Flows Alessandra, Inc. reported net income of...

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Jennifer Cainas Chapter 14 Review Statement of Cash Flows Alessandra, Inc. reported net income of $3,800 on 12/31/15. You are given the following comparative balance sheets for 2014 and 2015: Cash Accounts receivable Inventory Equipment Accumulated depreciation Total assets 2015 44,000 27,000 30,000 111,000 (36,000) 176,000 2014 18,000 29,000 36,000 102,000 (30,000) 155,000 Accounts payable Wages payable Notes Payable Conributed capital Retained earnings Total liabilities & equity 25,000 800 38,000 80,000 32,200 176,000 22,000 1,000 48,000 60,000 24,000 155,000 ). Also known: a. Net income was $12,000 b. Bought equipment for cash $9,000 C. Paid $10,000 on notes payable d. Issued new shares of stock for $20,000 in cash Declared and paid cash dividend f. Depreciation expense was $6,000 e Prepare the indirect Statement of Cash Flows

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