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E5-15 (Preparation of a Statement of Cash Flows) Presented below is a condensed version of the comparative balance sheets for Sondergaard Corporation for the last two years at December 31. 2010 2009 Cash $157,000 $78,000 Accounts receivable 180,000 185,000 Investments 52,000 74,000 Equipment 298,000 240,000 Less: Accumulated depreciation (106,000) (89,000) Current liabilities 134,000 151,000 Capital stock 160,000 160,000 Retained earnings 287,000 177,000 Additional information: Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; cash dividends paid were $50,000 and net income was $160,000. (a) Prepare a statement of cash flows for 2010 for Sondergaard Corporation. (List multiple entries from the largest positive to the smallest positive amount followed by the most negative to the least negative amount, e.g. 15, 14, 10, -17, -5, -1. For negative numbers use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) SONDERGAARD CORPORATION Statement of Cash Flows For the Year Ended December 31, 2010Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities: $ Net cash provided by operating activities Cash flows from investing activities Net cash used by investing activities Cash flows from financing activities Net increase in cash Cash at beginning of year Cash at end of year $ $
