A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Lomax Company Comparative Balance Sheet Year Last Year $ 79, eee 686,eee 617,600 16,40e 1,319, eee 2,410, eee 624,680 1,785,400 96,800 128.000 $ 56,488 639, eee 428, eee 9,000 1,123,400 1,832, eee 567,200 1,264,800 154,00 74.000 $3,329,200 $2,616, 200 Assets Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Loans to subsidiaries Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payaoke Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' egu 882,800 $ 578,000 29,800 49,200 143,400 124,400 1,056, eee 751,600 660,000 424,000 1,716,000 1,175,600 1,186,28 1,088, eee 502,200 432,600 1,613,200 1,440, 688 $3,329,200 $2,616,200 The following additional information is available about the company's activities during this year. The following additional Information is available about the company's activities during this year: a. The company declared and paid a cash dividend this year. b. Bonds with a principal balance of $388,000 were repaid during this year. c. Equipment was sold during this year for $74,000. The equipment had cost $146.000 and had $49.600 in accumulated depreciation on the date of sale. d. Long-term investments were sold during the year for $126,000. These investments had cost $57,200 when purchased several years ago. e. The subsidiaries did not repay any outstanding loans during the year Lomax did not repurchase any of its own stock during the year. The company reported net income this year as follows: $ 3,160,00 1.959.200 1,200.00 972.400 228.400 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items! Gain on sale of investeents Loss on sale of equipment Income before taxes Income taxes Net Income $ 58, (22,480) Required: Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction In cash outfiows as negative amounts.) Lomax Company 3-Chapters 10, 11 & 14 Required Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction in Lomax Company Statement of Cash Flows Operating activities TI TV Investing activities 13 En cash and can