SIMPSONS INC. - Statement of Cash Flows

Condensed financial data of Simpsons Inc. Follow.

Liabilities and Stockholders’ Equity

Sales Revenue…………………………………………………………………………………………………………..$745,843

Less:

            Cost of goods sold………………………………………………………..………$260,083

            Operating expenses, excluding depreciation…………………………..23,827

            Depreciation expense……………………………………………………….……..89,280

            Income tax expense………………………………………………………………..52,378

            Interest expense…………………………………………………………….…………9,082

            Loss on disposal of plant assets…………………………………………..14,400……..……...449,050

Net income……………………………………………………………………………………………..……….……..$296,793

Additional information:

1. New plant assets costing $192,000 were purchased for cash during the year.

2. Old plant assets having an original cost of $110,400 and accumulated depreciation of $93,120 were sold for $2,880 cash.

3. Bonds payable matured and were paid off at face value for cash.

4. A cash dividend of $49,977 was declared and paid during the year.