\begin{tabular}{|c|c|c|c|} \hline 1 & & Dec. 31,20Y6 & Dec 31,20 Y5 \\ \hline 2 & Assets & & \\ \hline 3 & Cash & $644,280.00 & $679,240.00 \\ \hline 4 & Accounts receivable (net) & 565,860.00 & 546,830.00 \\ \hline 5 & Inventories & 1,010,590.00 & 981,810.00 \\ \hline 6 & Investments & 0.00 & 239,300.00 \\ \hline 3 & Land & 520,730.00 & 0.00 \\ \hline B & Equipment & 880,820.00 & 680,410.00 \\ \hline 9 & Accumulated depreciation & (244,970.00) & (200,400.00) \\ \hline 10 & Total assets & $3,377,310.00 & $2,927,190.00 \\ \hline 11 & Liabilities and Stockholders' Equity & & \\ \hline 12 & Accounts payable (merchandise creditors) & $772,460.00 & $747,980.00 \\ \hline 13 & Accrued expenses payable (operating expenses) & 63,180.00 & 70,910.00 \\ \hline 14 & Dividends payable & 8,380.00 & 6,700.00 \\ \hline 15 & Common stock, $2 par & 56,000.00 & 32,000.00 \\ \hline 16 & Paid-in capital: Excess of issue price over par-common stock & 408,000.00 & 192,000.00 \\ \hline 17 & Retained earnings & 2,069,290.00 & 1,877,600.00 \\ \hline 18 & Total liabilities and stockholders' equity & $3,377,310.00 & $2,927,190.00 \\ \hline \end{tabular} The income statement for the year ended December 31, 20Y6, is as follows: Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows: a. Equipment and land were acquired for cash b. There were no disposals of equipment during the year. c. The investments were sold for $175,880 cash d. The common stock was issued for cash. There was a \$27,680 debit to Retained Earnings for cash dividends declared Prepare a statement of cash flows, using the direct method of presenting cash flows from oserating activiles. Be sure to complete the heading of the statement. Feler to the Labels and Amount Descriptions list provided for the exact wanding of the answer choices for text entries. Enter amounts that represent cash outflows as negative numbers using a minus sign. Cash paid for purchase of treasury stock Cash payments for income taxes Cash payments for merchandise Cash payments for operating expenses Cash received from customers Cash received from sale of common stock Cash received from sale of investments Change in cash December 31, 20 Y6 Depreciation For the Year Ended December 31, 20Y6 Gain on sale of investments Issuance of common stock for acquisition of land Issuance of common stock for purchase of equipment Loss on sale of investments Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing activities Net cash flow used for investing activities Net cash flow used for operating activities Presure a statement of cash Aows, using the direct method of presenting cash flows from opprating activites. Be sure to complete ithe heading of the statement floler to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for fext entries. Enter amounts that represent cash outflows as negative numbers using a minus ngin. Points: 2
