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Condensed financial data of Fairchild Company for 2010 and 2009 are presented below.

Condensed financial data of Fairchild Company for 2010 and 2009 are presented below.

FAIRCHILD COMPANY
Comparative Balance Sheet
as of December 31 2010 and 2009

2010
2009

Cash $1,800 $1,100
Receivables 1,750 1,300
Inventory 1,600 1,900
Plant assets 1,900 1,700
Accumulated depreciation (1,200) (1,170)
Long-term investments (Held-to-maturity) 1,300
1,470

$7,150
$6,300


Accounts payable $1,200 $ 800
Accrued liabilities 200 250
Bonds payable 1,400 1,650
Capital stock 1,900 1,700
Retained earnings 2,450
1,900

$7,150
$6,300


FAIRCHILD COMPANY
Income Statement
For the year ended December 31, 2010

Sales $6,900
Cost of goods sold 4,700

Gross margin 2,200
Selling and administrative expense 930

Income from operations 1,270
Other revenues and gains
Gain on sales of investments 80

Income before tax 1,350
Income tax expense 540

Net income $810



Additional information:
During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2010. Cash dividends were $260.

Instructions

Complete the statement of cash flows using the indirect method.
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Accounting-8085484.xls

Cash Flow Statement
Operating Activities
Net Income
Add: Depreciation
Change in operating assets/liabilities
Receivables
Inventory
Accounts payable
Accrued liabilities
Cash from operating...

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