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  3. wentworth company balance sheets as of december 31

Wentworth Company Balance Sheets as of December 31 Assets Cash Accounts receivable Inventory Long-term investments...

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Accounting

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Wentworth Company Balance Sheets as of December 31 Assets Cash Accounts receivable Inventory Long-term investments Totals 2013 2012 21,500 $120,000 195,000 105,000 180,000 225,000 $396,500 $510,000 Liabilities and shareholders' equity Accounts payable Operating expenses payable Bonds payable Common stock Retained earnings Totals $ 75,000 $120,000 24.000 15,000 70,000 100,000 125,000 125,000 102.500 150,000 $396,500 $510,000 Wentworth Company Income Statement For the Year Ended December 31. 2013 Sales Cost of goods sold: $560,000 Beginning inventory Purchases Goods available for sale Less: ending inventory Cost of goods sold $225,000 330,000 555,000 180,000 Gross profit Operating expenses Income from operations Other expenses: 375,000 185,000 180,000 5,000 Loss on sale of long-term investment (7.500 (2.500 Net loss Cash dividends of $45,000 were paid in 2013. Required: Prepare a statement of cash flows using the direct method

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