14 Feb The comparative balance sheet for Two Kicks Compan
The comparative balance sheet for Two Kicks Company is as follows: The following additional information is available: a. Net income for 2012 was $50,000. b. Cash dividends of $25,000 were paid during the year. c. A portion of outstanding bonds matured and were redeemed for cash by the bondholders. No new bonds were issued during the year. d. Common stock was issued for cash. e. Property and equipment were purchased for cash. No long-term assets were sold during the year. f. The change in accumulated depreciation is a result of depreciation expense. Required Prepare a complete statement of cash flows for the year using the indirect method for the operating activities section.
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