Michelle Weng Corporation's comparative balance sheets are presented below. The company had net income of $6,900 for the year and paid dividends of $10,500.
Michelle Weng Corporation
Comparative Balance Sheets
December 31
2024
2023
Cash
$ 3,570 $ 10,700
Accounts receivable
19,200 22,400
Land
17,000 27,000
Building
90,000 70,000
Accumulated depreciation
(25,000) (10,000)
Total
$104,770 $120,100
Accounts payable
$ 12,370 $31,100
Common stock
76,000 69,000
Retained earnings
15,400 20,000
Total
$104,770 $120,100
REQUIRED:
(a) In the space below, prepare a statement of cash flows for 2024 using the indirect