Posted: August 9th, 2016

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Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Rodriquez Company, using the indirect method.


SCF – Direct Method
Mortonson Company has not yet prepared a formal statement of cash flows for the 2012 fiscal year. Comparative balance sheets as of December 31, 2011, and 2012, and a statement of income and retained earnings for the year ended December 31, 2012, are presented below.

Statement of Income and Retained Earnings
For The Year Ended December 31, 2012
($000 Omitted)
Sales $3,800
Cost of goods sold $1,200
Salaries and benefits 725
Heat, light, and power 75
Depreciation 80
Property taxes 19
Patent amortization 25
Miscellaneous expenses 10
Interest 30 2,164
Income before income taxes 1,636
Income taxes 818
Net income 818
Retained earnings – January 1, 2012 310
Stock dividend declared and issued 600
Retained earnings – December 31, 2012 $528

Comparative Balance Sheet

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