CP14-47 (similar to) Nature Gnome Company's comparative balance sheet and additional data are shown below. (Click the icon to view the comparative balance sheet.) Requirement (Click the icon to view the additional data.) Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Nature Gnome Company Statement of Cash Flows Year Ended December 31, 2019 Cash Flows From Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data Table Nature Gnome Company Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Short-term Investments, net Accounts Receivable, net Merchandise Inventory Office Supplies Prepaid Rent 1,938,350 $ 30,000 19,800 2,700 7,000 600 40 400 1,400 Property, Plant, and Equipment: Land 140,000 70,000 Building 627,000 52,000 Canoes 15,360 15,360 Office Furniture and Equipment 60,000 Accumulated Depreciation-PP&E (34,350) (1,050) $ Total Assets 2,779,700 $ 164,910 Liabilities Current Liabilities: Accounts Payable Utilities Payable Telephone Payable Wages Payable 6,600 $ 3,940 800 300 310 3,950 1,050 Notes Payable 14,000 Interest Payable 640 Unearned Revenue 850 400 Long-Term Liabilities: Notes Payable 9,120 9,120 Mortgage Payable Bonds Payable 360,000 1,400,000 0 Discount on Bonds Payable (1,520) Total Liabilities 1,794,950 15,160 Stockholders' Equity Paid-In Capital: Preferred Stock 50,000 Paid-In Capital in Excess of Par-Preferred Common Stock 20,000 285,000 145,000 Paid-In Capital in Excess of Par-Common Retained Earnings 280,000 349,750 Total Stockholders' Equity 984,750 4,750 149,750 $ Total Liabilities and Stockholders' Equity 2,779,700 $ 164,910 Print Done More Info 1. The income statement for 2019 included the following items: a. Net income, $435,000 b. Depreciation expense for the year, $33,300. c. Amortization on the bonds payable, $380. 2. There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock. 3. The company issued bonds payable with a face value of $1,400,000, receiving cash of $1,398,100. 4. The company distributed 10,000 shares of common stock in a stock dividend when the market value was $7.00 per share. All other dividends were paid in cash. 5. The common stock, except for the stock dividend, was issued for cash. 6. The cash receipt from the notes payable in 2019 is considered a financing activity because it does not relate to operations. Print Done