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Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $236,920 $218,870 Accounts receivable (net) 85,830 78,610 Inventories 242,280 232,730 Investments 0 90,170 Land 124,270 0 Equipment
Dec. 31, 20Y9 | Dec. 31, 20Y8 | ||||
Assets | |||||
Cash | $236,920 | $218,870 | |||
Accounts receivable (net) | 85,830 | 78,610 | |||
Inventories | 242,280 | 232,730 | |||
Investments | 0 | 90,170 | |||
Land | 124,270 | 0 | |||
Equipment | 267,320 | 205,770 | |||
Accumulated depreciationequipment | (62,580) | (55,490) | |||
Total assets | $894,040 | $770,660 | |||
Liabilities and Stockholders' Equity | |||||
Accounts payable | $161,820 | $151,820 | |||
Accrued expenses payable | 16,090 | 20,040 | |||
Dividends payable | 8,940 | 6,940 | |||
Common stock, $10 par | 48,280 | 37,760 | |||
Excess of paid-in capital over par | 181,490 | 104,810 | |||
Retained earnings | 477,420 | 449,290 | |||
Total liabilities and stockholders' equity | $894,040 | $770,660 |
Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:
- Equipment and land were acquired for cash.
- There were no disposals of equipment during the year.
- The investments were sold for $81,150 cash.
- The common stock was issued for cash.
- There was a $64,350 credit to Retained Earnings for net income.
- There was a $36,220 debit to Retained Earnings for cash dividends declared.
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
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