Hartman inc statement of cash flows schedule of cash effects items on


Hartman, Inc. has prepared the following comparative balance sheets for 2012 and 2013:


                                                                                                          2013                      2012     


         Cash                                                                                     $   287,000             $  153,000


         Accounts receivable                                                                 149,000                 117,000


         Inventory                                                                                   150,000                 180,000


         Prepaid expenses                                                                       18,000                   27,000


         Plant assets                                                                            1,280,000              1,050,000


         Accumulated depreciation                                                       (450,000)               (375,000)


         Patent                                                                                        153,000                 174,000


                                                                                                      $1,587,000            $1,326,000




         Accounts payable                                                                $   153,000            $   168,000


         Accrued liabilities                                                                        60,000                   42,000


         Mortgage payable                                                                                                450,000


         Preferred stock                                                                         525,000                     


         Additional paid-in capital—preferred                                        120,000                     


         Common stock                                                                         600,000                 600,000


         Retained earnings                                                                     129,000                   66,000


                                                                                                      $1,587,000            $1,326,000




Additional information:


  • The Accumulated Depreciation account has been credited only for the depreciation expense for the period.
  • The Retained Earnings account has been charged for dividends of $158,000 and credited for the net income for the year.




  • The income statement for 2013 is as follows:


    Sales                                                   $1,980,000

    Cost of sales                                         1,089,000

    Gross profit                                              891,000

    Operating expenses                                 670,000

    Net income                                         $   221,000



    (1)    From the information above, prepare a statement of cash flows using the indirect method for Hartman, Inc. for the year ended December 31, 2013.

    (2)    From the information above, prepare a schedule of cash provided by operating activities using the direct method.


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