(b) LIFO 4. Statement of cash flows preparation. Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2019. December 31 2018 2019 Cash $42,000 $60,000 Accounts receivable (net) 84,000 144,200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504,000 789,600 Accumulated depreciation (84,000) (110,600) TOTAL $772.800 $1.115.800 Accounts payable 50,400 91,000 Notes payable-short-term 67,200 29,400 Notes payable-long-term 168,000 302,400 Common stock 420,000 487,200 Retained earnings TOTAL Additional data for 2019: 1. Net income was $230,200. Depreciation expense was $26,600. 2. Land was sold at its original cost. 67.200 205.800 $772.800 $1.115.800 3. 4. 5. 6. 7. Dividends of $91,600 were paid. Equipment was purchased for $84,000 cash. A long-term note for $201,600 was used to pay for an equipment purchase. Common stock was issued to pay a $67,200 long-term note payable.