Eldridge Company Balance Sheets 31-Dec Assets 2009 2008 Cash $295

Eldridge Company

Balance Sheets

31-Dec

Assets 2009 2008

Cash $29568 $27648

Accounts Receivable $38616 $35280

Merchandise Inventory $87750 $74052

Long-term Investments $67080 $67680

Machinery $210600 $174600

Acculated Depreciation ($40260) ($341440)

Total assets $393354 $341820

Liabilities

Accounts Payable $78000 $48456

Income taxes payable $12870 $12240

Bonds Payable $58500 $79200

Total Liabilities $149370 $139896

Equity

Common Stock $140400 $48456

Contributed capital in excess of par $15600 $12240

Retained Earnings $87984 $79200

Total Equity $243984 $201924

Total Liabilities and Equity $393354 $341820

Eldridge Company

Income Statement

For year Ended December 312009

Sales $288000

Cost of Goods Sold $97080

Depreciation Expense $35280

Other operating Expenses $57600

Interest Expense $2400 ($192360)

Other Earnings

Los on sale of Equipment ($10080)

Income before taxes $85560

Income taxes Expense $33180

Net Income $52180Please follow the questions and balance sheet and Income statement are attached.

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 $45060 was sold for $2520 cash.

3. New machinery was purchased for $81060 cash.

4. Cash dividends of $ 40320 were paid.

5. Additional shares of stock were issued for cash

Prepare a complete statement of cash flows for calendar-year 2009 using the indirect method.