The comparative balance sheets for Rothlisberger Company as of December 31 are presented below.
Additional information:
1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720.
2. Land was sold for cash at book value.
3. Cash dividends of $20,000 were paid.
4. Net income for 2019 was $42,000.
5. Equipment was purchased for $88,000 cash. In addition, equipment costing $22,000 with
a book value of $10,000 was sold for $6,000 cash.
6. Bonds were converted at by issuing 40,000 shares of $1 common stock.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2019, using the indirect method.
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