Condensed financial data of Fairchild Company for 2012 and 2011 are presented be

Question

Condensed financial data of Fairchild Company for 2012 and 2011 are presented below.

FAIRCHILD COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2012 AND 2011

2012
2011 Cash
$1,792

$1,110
Receivables
1,744

1,295
Inventory
1,589

1,920
Plant assets
1,906

1,702
Accumulated depreciation
(1,200 )
(1,170 ) Long-term investments (held-to-maturity)
1,302
1,476

$7,133
$6,333





Accounts payable
$1,215

$793
Accrued liabilities
208

233
Bonds payable
1,405

1,638
Common stock
1,892

1,710
Retained earnings
2,413
1,959

$7,133
$6,333 Condensed financial data of Fairchild Company for 2012 and 2011 are presented below. During the year, $75 of common stock was issued in exchange for plant assets. No plant assets were sold in 2012. Cash dividends were $268. Prepare a statement of cash flows using the indirect method. (If an amount reduces the account balance then enter with negative sign.)

Explanation / Answer

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