P12-9A Condensed financial data of Granger Inc. follow.

The Balance Sheets are on the attached Word doc.

Additional information:

New plant assets costing $100,000 were purchased for cash during the year.

Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.

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

A cash dividend of $26,030 was declared and paid during the year.

Instructions

Using Excel Prepare a statement of cash flows using the indirect method.

Net cash provided—oper. act. $176,930

Prepare a statement of cash flows—direct method.

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