prepare alegre s statement of cash flows 641408

Alegre Retail Corporation”s most recent comparative Balance Sheet is as follows:

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Assets
Cash	$ 7,000	$ 12,000
Accounts receivable, net	11,000	2,000
Merchandise inventory	39,000	24,000
Long term investments	23,000	9,000
Equipment	83,000	100,000
Accumulated depreciation	(66,000)	(62,000)
Total assets	$97,000	$ 85,000
Liabilities and Stockholders’ Equity
Accounts payable	$ 9,000	$28,000
Taxes payable	1,000	2,000
Notes payable	16,000	10,000
Common stock	42,000	30,000
Retained earnings	29,000	15,000
Total liabilities and stockholders’ equity	$97,000	$85,000

Alegre”s net income was $34,000. No direct exchange transactions occurred at Alegre during the year. No equipment was purchased. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment sold was$12,000. Cash dividends of $20,000 were declared and paid during the year. Alegreuses the indirect method to prepare its statement of cash flows.

Required:

Prepare Alegre”s statement of cash flows.

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