Depreciation Expense Assignment

2. The following information is available for the Eldridge Company: Eldridge Company Balance Sheets On December 31, 2009, 2008 Assets Cash. Accounts receivable Merchandise inventory Long-term investments Machinery. Accumulated depreciation Total assets. S 29,568 27,648 38.616 35,280 74,052 87,750 67,080 67,680 174.600 (40.260) (37440) S393,354 S341,820 210,600 Liabilities Accounts payable Income taxes payable. Bonds payable Total liabilities Equity Common stock. Contributed capital in excess of par Retained earnings. Total equity Total liabilities and equity S 78,000 S48,456 12,870 12240 58.500 S149,370 S139,896 79,200 140,400 115,200 10,800 15.600 87.984 $243,984 $201,924 $393,354 $341,820 75,924 Eldridge Company Income Statement For Year Ended December 31, 2009 Sales Cost of goods sold.

Depreciation expense. Other operating expenses Interest expense. Other gains (losses) Loss on sale of equipment. Income before taxes Income taxes expense Net income. S288,000 S97,080 35,280 57,600 2.400 (192360) (10,080) 85,560 33.180 S52.380 Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash (3) New machinery was purchased for S81,060 cash (4) Cash dividends of $40,320 were paid (5) Additional shares of the stock were issued for cash Prepare a complete statement of cash flows for calendar-year 2009 using the indirect method. .

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