Eldridge Company Balance Sheets 31-Dec Assets 2009 2008 Cash $29,568 $27,648 Acc

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Eldridge Company Balance Sheets 31-Dec Assets 2009 2008 Cash $29,568 $27,648 Accounts Receivable $38,616 $35,280 Merchandise Inventory $87,750 $74,052 Long-term Investments $67,080 $67,680 Machinery $210,600 $174,600 Acculated Depreciation ($40,260) ($341,440) Total assets $393,354 $341,820 Liabilities Accounts Payable $78,000 $48,456 Income taxes payable $12,870 $12,240 Bonds Payable $58,500 $79,200 Total Liabilities $149,370 $139,896 Equity Common Stock $140,400 $48,456 Contributed capital in excess of par $15,600 $12,240 Retained Earnings $87,984 $79,200 Total Equity $243,984 $201,924 Total Liabilities and Equity $393,354 $341,820 Eldridge Company Income Statement For year Ended December 31,2009 Sales $288,000 Cost of Goods Sold $97,080 Depreciation Expense $35,280 Other operating Expenses $57,600 Interest Expense $2,400 ($192,360) Other Earnings Los on sale of Equipment ($10,080) Income before taxes $85,560 Income taxes Expense $33,180 Net Income $52,180Please 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 $45,060 was sold for $2,520 cash. 3. New machinery was purchased for $81,060 cash. 4. Cash dividends of $ 40,320 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.

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