A comparative balance sheet for Lomax Company containing data for the last two years is as follows: TORX Company Comparative Balance Sheet This Year Last Year 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 payable Accrued liabilities Income taxes payable Total current liabilities Donds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 92,000 $ 66.800 632,000 662,500 633,200 441.000 26.800 15,500 1,384,000 1,185,800 2,475,000 1,884,000 640,200 5 78.900 1,834,800 1,305,100 124,100 193.000 141,000 80,500 $3,483,900 $2,764,400 $ 903,600 $ 37,600 160,300 1, 101,500 725,000 1,026, 500 591.000 60,900 134.800 7 86,700 4 63.000 , 249, 700 1, 132,000 1.021.000 525, 400493,700 1,657,400 1,510,700 $3,403,900 92.764.400 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 $401,000 were repaid during this year. Equipment was sold during this year for $80,500. The equipment had.cost $172,000 and had $65,200 in accumulated depreciation on the date of sale. d. Long term investments were sold during the year for $152.000. These investments had cost $68,900 when purchased several years ago. e. The subsidiaries did not repay any outstanding loans during the year. 1. Lomax did not repurchase any of its own stock during the year. The company reported net income this year as follows: $3,420,000 2,120,400 1,299,600 1,041,300 258,300 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 83,100 (26,300) 56,800 315,100 101,000 $ 214,100 Required: Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction in cash outflows as negative amounts.) 10 ATTI 1 / / / / LUU / VIL / / ZA / / / / / / / EDIT / / OD I TTTTTTT 1 TL 1 1 Operating activities: 1 TL Investing activities: Beginning cash and cash equivalents Ending cash and cash equivalents Financing activities: 1 1 I. IN