ALREADY STARTED ONLY NEED THE INFO FOR THE BLANK AREAS THANK

ALREADY STARTED, ONLY NEED THE INFO FOR THE BLANK AREAS. THANK YOU :-)

Condensed financial data of Odgers Inc. follow.

ODGERS INC.
Comparative Balance Sheets
December 31

Assets

2014

2013

$ 197,152

$ 118,096

214,232

92,720

274,500

250,954

69,296

63,440

336,720

265,960

695,400

591,700

(122,000

)

(126,880

)

$1,665,300

$1,255,990

Liabilities and Stockholders’ Equity

$ 248,880

$ 164,212

40,260

51,240

268,400

356,240

536,800

427,000

570,960

257,298

$1,665,300

$1,255,990

ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014

$947,842

$330,522

30,280

113,460

66,563

11,541

18,300

570,666

$ 377,176

Additional information:

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

ODGERS INC.
Statement of Cash Flows
For the Year Ended December 31, 2014

Adjustments to reconcile net income to:

$ ___________

$ ___________

Cash Flows from Financing Activities:

$ __________________

$ __________________

$ ________________

$ _________________

ODGERS INC. Comparative Balance Sheets December 31
Assets		2014			2013
Cash		$ 197,152			$ 118,096
Accounts receivable		214,232			92,720
Inventory		274,500			250,954
Prepaid expenses		69,296			63,440
Long-term investments		336,720			265,960
Plant assets		695,400			591,700
Accumulated depreciation		(122,000	)		(126,880	)
Total		$1,665,300			$1,255,990
Liabilities and Stockholders’ Equity
Accounts payable		$ 248,880			$ 164,212
Accrued expenses payable		40,260			51,240
Bonds payable		268,400			356,240
Common stock		536,800			427,000
Retained earnings		570,960			257,298
Total		$1,665,300			$1,255,990

Solution

ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014 Cash Flows from Operating Activities Net Income 377,176 Adjustments to reconcile net income to: Depreciation Expense 113,460 Loss on Disposal of Plant Assets 18,300 Increase in Accounts Receivable -121,512 Increase in Inventory -23,546 Increase in Prepaid Expenses -5,856 Increase in Accounts Payable 84,668 Decrease in Accrued Expenses Payable -10,980 $ 54,534 Net Cash Provided by Operating Activities 431710 Cash Flows from Investing Activities: Sale of Plant Assets 3,660 Purchase of Investments -70760 (265960-336720) Purchase of Plant Assets -244,000 Net Cash used by Investing Activities
-311,100 (3660-70760-244000) Cash Flows from Financing Activities: Sale of Common Stock 109800 (536800-427000) Payment of Cash Dividends -63514 Given Redemption of Bonds -87840 (268400-356240) Net Cash used by Financing Activities
-41554 (109800-63514-87840) Net Increase in Cash
79,056 (431710-311100-41554) Cash at Beginning of Period
   118096 Given Cash at End of Period 197,152 (79056+118096)