Accounting homework for accountingdoctor

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project_spring_2016-2017.xlsx
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Companys Data

Kuwait towers Company has not yet prepared a formal statement of cash flows for the 2015 fiscal year. Comparative balance sheets as of December 31, 2014 and 2015, and a statement of income and retained earnings for the year ended December 31, 2015, are presented below.
Kuwait towers Company
StATEMENT of INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 2015
(KWD 000 OMITTED)
Sales 3800
Expenses
Cost of goods sold 1200
Salaries and benefits 725
Heat, light, and power 75
Depreciation 80
Property taxes 19
Patent amortization 25
Miscellaneous expenses 10
Interest 30 2,164
Income before income taxes 1,636
Income taxes 818
Net income 818
Retained earnings—Jan. 1, 2015 310
1,128
Stock dividend declared and issued 600
Retained earnings—Dec. 31, 2015 528
Kuwait towers Company
COMPARATIVE BALANCE SHEETS
AS OF DECEMBER 31
(KWD 000 OMITTED)
Assets 2015  2014 
Long-term assets
Land $ 150 $ 70
Buildings and equipment 910 600
Accumulated depreciation -200 -120
Patents (less amortization) 105 130
Total long-term assets 965 680
Current assets
Cash 333 100
Treasury notes (Available-for-sale) 10 50
Accounts receivable 780 500
Inventory 720 560
Total current assets 1,843 1,210
Total assets $ 2,808 $ 1,890
Liabilities and Stockholders' Equity
Long-term notes payable—due 2012 200 200
Current liabilities
Accounts payable 420 330
Income taxes payable 40 30
Notes payable 320 320
Total current liabilities 780 680
Total liabilities 980 880
Stockholders' equity
Common stock  1300 700
Retained earnings 528 310
Total stockholders' equity 1828 1010
Total liabilities and stockholders' equity $ 2,808 $ 1,890
Prepare a statement of cash flows using the indirect method. Changes in accounts receivable and accounts payable relate to sales and cost of goods sold. Do not prepare a reconciliation schedule.

St of Cashflow