Condensed financial data of Minnie Hooper Company are shown below. Minnie Hooper Company…

Condensed financial data of Minnie Hooper Company are shown below.Minnie Hooper Company Comparative Balance Sheets December 31Assets 2014 2013Cash $ 93,600 $ 33,400Accounts receivable 63,200 37,000Inventory 124,500 102,650Investments 79,500 107,000Plant assets 318,000 205,000Accumulated depreciation (44,000) (40,000)Total $634,800 $445,050Liabilities and Stockholders’ EquityAccounts payable$ 56,600$ 48,280Accrued expenses payable15,10018,830Bonds payable140,00070,000Common stock250,000200,000Retained earnings173,100107,940Total$634,800$445,050Minnie Hooper Company Income StatementFor the Year Ended December 31, 2014Sales revenue$297,500Less:Cost of goods sold$99,460Operating expenses, excludingdepreciation expense19,670Depreciation expense25,000Loss on disposal of plant assets5,000Income taxes37,270Interest expense2,940189,340Net income$108,160Additional information:1. New plant assets costing $149,000 were purchased for cash during the year.2. Investments were sold at cost.3. Plant assets costing ,000 were sold for $10,000, resulting in a loss of $5,000.4. A cash dividend of $43,000 was declared and paid during the year.InstructionsPrepare a statement of cash flows using the indirect method.

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