. Statement of cash flows (direct and indirect methods).Hartman, Inc. has prepared the following comparative balance sheets for 2010 and 2011:2011 2010Cash $ 297,000 $ 153,000Receivables 159,000 117,000Inventory 150,000 180,000Prepaid expenses 18,000 27,000Plant assets 1,260,000 1,050,000Accumulated depreciation (450,000) (375,000)Patent 153,000 174,000$1,587,000 $1,326,000Accounts payable $ 153,000 $ 168,000Accrued liabilities 60,000 42,000Mortgage payable — 450,000Preferred stock 525,000 —Additional paid-in capital—preferred 120,000 —Common stock 600,000 600,000Retained earnings 129,000 66,000$1,587,000 $1,326,0001. The Accumulated Depreciation account has been credited only for the depreciation expense for the period.2. The Retained Earnings account has been charged for dividends of $138,000 and credited for the net income for the year.The income statement for 2011 is as follows:Sales $1,980,000Cost of sales 1,089,000Gross profit 891,000Operating expenses 690,000Net income $ 201,000Instructions(a) From the information above, prepare a statement of cash flows (indirect method) for Hartman, Inc. for the year ended December 31, 2011.(b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),It will show all calculations and formulas AutomaticallyQuestion:Statement of…
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more