CHAPTER 16 CASH FLOW STATEMENT Prob. 6 The comparative balance sheet of House Construction for June 30 follows: , 2020 and 2019 is shown as Dec. 31, 2020 Dec. 31,2019 ASSETS Cash $ 41,600 $ 28,200 121,900 175,600 110,700 meo 170,500 Cloo Investments -Land 60,000 -0 210,600 174,000 258,000 (58,300) Accumulated depreciation-equipment (49,600)-7 712,800 530,400 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Acerued expenses payable (operating expenses Dividends payable Common Stock, $1 par Paid-in Capital in excess of par-common stock Retained Earnings $ 121,000 $114,200 15,800 t22qu 12,000 50,000 120,000 208,400 18) 15,000 67,200 264,000 227,600 $712,800 530,400 The following additional information was taken from the records: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year c. The investments were sold for $54,000 in cash. d. The common stock was issued for cash. e. There was-a $79,200 credit to Retained Earnings for net income. f. There was a $60,000 debit to Retained Earnings for cash dividends declared. Prepare the cash flow statement using the Indirect Method