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: Direct Method, Arthur Corporation

Assets: 2010, 2009
Cash: 24,640 , 23,040
A/R: 32,180 , 29,400
Merch. Inv: 73,125 , 61,710
long-term inv: 55,900 , 56,400
Equipment: 175,500 , 145,500
Accum depr.: (33,550) , (31,200)
Total Assets: 327,795 , 284,850

Liabilities:
A/P: 65,000 , 40,380
Inc. Tax Pay: 10,725 , 10,200
Bonds Payable: 48,750 , 66,000
Total Liabilities: 124,475 , 116,580
Equity:
Common Stock: 117,000 , 96,000
Contributed capital in excess of par: 13,000 , 9,000
Retained Earn: 73,320 , 63,270
Total Equity: 203,320 , 168,270
Total Lia & Eq: 327,795 , 284,850

Income Statement:
Sales: 240,000
CGS: 80,900
Deprec. exp: 29,400
Other Op. Exp: 48,000
Interest Exp: 2000 (160,300)
Other Gains(losses):
Loss on Sale (8,400)
Income before taxes: 71,300
Income taxes exp: (27,650)
Net Income: 43,650

Additional information:
1. There was no gain or loss on the sale of long-term investments, nor on bonds retired.
2. Old quip with original cost of 37,550 was sold for 2100 cash
3. new equipment was purchased for 67,550 cash
4. Cash dividends of 33,600 were paid
5. Additional shares of stock were issued for cash



use direct method for statement of cash flows 2009.... I need help with everything but mainly the additional information part
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