Use a spreadsheet to prepare a statement of cashflows for Cincinnati Health Club.

Exercise 11-43 (APPENDIX 11B) USING A SPREADSHEET TO PREPARE A STATEMENT OF CASH FLOWS

Comparative balance sheets for Cincinnati Health Club are presented below.

Cincinnati Health Club Balance SheetsDecember 31, 2009 and 2008
ASSETS	2009	2008
Current assets: CashAccounts receivable InventoryTotal current assets Property, plant, and equipment:Building Equipment Accumulated depreciation Net property, plant, andequipmentTotal assets		$  5,300		$  9,200
	10,500		8,900
	19,800		18,600
	$ 35,600		$ 36,700
$ 490,000		$ 490,000
280,000		270,000
$ 770,000		$ 760,000
(148,000)		(120,000)
	622,000		640,000
	$657,600		$676,700
LIABILITIES AND EQUITY
Current liabilities: Accounts payable Salaries payable Income taxes payableTotal current liabilities Long-term liabilities:Bonds payable Total liabilitiesEquity:Common stock Retained earningsTotal equityTotal liabilities and equity	$ 55,300		$ 36,100
9,500		11,700
1,100		9,900
	$ 65,900		$ 57,700
	350,000		400,000
	$415,900		$457,700
$ 180,000		$ 150,000
61,700		69,000
	241,700		219,000
	$657,600		$676,700

Additional information:

a.        Cincinnati Health Club reported net income of $2,700 for 2009.

b.        No buildings nor equipment were sold during 2009. Equipment was purchased for

$10,000 cash.

c.         Depreciation expense for 2009 was $28,000.

d.        Bonds payable of $50,000 were issued for cash during 2009.

e.         Common stock of $30,000 was issued during 2009.

f.         Cash dividends of $10,000 were declared and paid during 2009.

Required:

Using a spreadsheet, prepare a statement of cash flows for 2009. Assume Cincinnati Health Club uses the indirect method.