ACG2021 (16e) - Comprehensive Exam 2 (V.2) Statement of Cash FlowsIndirect Method (Ch. 13, Obj. 2, 3, 4, 5) The comparative balance sheet of Ranger Equipment Co. for December 31, 20Y2, and 20Y3 is as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $ 75,720 $ 47,940 Account receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation - equipment (99,110) (84,320) Total assets $1,216,760 $ 901,680 Liabilities and Stockholders Equity Accounts payable (merchandise creditors) $ 205,700 $ 194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common Stock, $1 par 202,000 102,000 Paid-in capital in excess of par-common stock 354,000 204,000 Retained earnings 398,960 354,280 Total liabilities and stockholders equity $1,216,760 $ 901,680 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: 1. Equipment and land were acquired for cash. 2. There were no disposals of equipment during the year. 3. The investments were sold for $91,800 cash. 4. The common stock was issued for cash. 5. There was a $151,680 credit to Retained Earnings for net income. 6. There was a $107,000 debit to Retained Earnings for cash dividends declared. REQUIRED: Prepare in the proper format a Statement of Cash Flows using the Indirect Method of presenting cash flows from (used for) operating activities. INSTRUCTIONS: 1. The exam must be submitted using an EXCEL WORKSHEET. The exam will receive a zero grade if submitted in any other format. 2. Ten (10) possible extra points will be awarded for neatness, organization, and clarity, and you must perform all necessary computations using Excel. 3. Only on-time submissions will qualify for the bonus points. Grading RUBRIC: A comprehensive grading will be performed of each section as follows: Cash flows from (used for) operating activities are worth 50 points. Cash flows from (used for) investing activities are worth 20 points. Cash flows from (used for) financing activities are worth 15 points. The ending part is worth 15 points. Total points: 100 Note: Use the proper format when doing the Statement of Cash Flows using the Indirect Method. make sure the answer is in excel sheet format