Alternate problem E The following information is from the accounting records of Wescott Office Supplies, Inc., for the fiscal years 2011 and 2010: 2011 2010 Assets Cash $ 66,250 $ 61,000 Accounts receivable, net 84,000 42,000 Merchandise inventory 42,000 48.250 Prepaid expenses 7,875 12,125 Land 94,500 78,750 Buildings 199,500 147.000 Accumulated depreciation - buildings (31,500) (26,250) Equipment 257,250 210,000 . Accumulated depreciation- quipment 178,750) (63,000) Total assets $641,125 $509,875 Liabilities and stockholders' equity Accounts payable $73,500 $ 47,250 Accrued liabilities payable 50.500 55,750 Five-year note payable 52,500 -0- Capital stock -$50 par 420,000 367,500 Retained earnings 39,375 Net income for year ended 2011 June 30, was $ 56,250. Additional land was acquired for cash, $ 15,750. No equipment or building retirements occurred during the year. Equipment was purchased for cash, $ 47,250. The five-year note for $ 52,500 was issued to pay for a building erected on land leased by the company Stock was issued at par for cash, $ 52,500. Depreciation 211,0010 Dividends declared and paid were $ 51,000. The companieich interest of $40,000 arrekimeometxes-of $40,000 1. Prepare a working paper for a statement of cash flows. 2. Prepare a statement of cash flows under the indirect method. Also prepare any necessary supplemental schedule(s)