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Comparative balance sheets for EM Company are presented below: EM Company Comparative Balance Sheets December 31 2018 $. 15 240 175 Assets Cash Accounts Receivable
Comparative balance sheets for EM Company are presented below: EM Company Comparative Balance Sheets December 31 2018 $. 15 240 175 Assets Cash Accounts Receivable Inventories Prepaid Expenses Equipment Accumulated Depreciation Long term Investments 2019 $ 9 340 125 10 610 (93) 16 470 (85) 19 Totals $ 1,017 $ 840 $ Liabilities & Stockholders' Equity Accounts Payable Accrued Liabilities Bonds Payable Deferred Income Tax Common Stock ($1 par) Retained Earnings $ 310 60 290 40 210 107 230 72 180 34 250 74 Totals $ 1,017 $ 840 Additional Information: 1. Sold PP&E with an original cost of $40 and Accumulated Depreciation of $16 for $20. 2. Sold long term investments with an original cost of $3 for $10 3. Paid dividends of $30 Instructions: A. Prepare a statement of cash flows using the indirect method
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