EBOOK Exercise 11-47 Preparing the Statement of Cash Flows The comparative balance sheets for Beckwith Products Company are presented below. 2019 2018 Assets: $ 36,950 $ 25,000 Cash Accounts receivable 75,100 78,000 Inventory 45,300 36,000 Property, plant, and equipment 256,400 153,000 Accumulated depreciation 38,650 20,000 Total assets $375,100 $272,000 Liabilities and Equity: Accounts payable $13,100 $11,000 Interest payable 11,500 8,000 Wages payable 9,000 8,100 Notes payable 105,000 90,000 Common stock 100,000 50,000 Retained earnings 137,400 104,000 Total liabilities and equity $375,100 $272,000 Additional Information: 1. Net income for 2019 was $58,400. 2. Cash dividends of $25.000 were declared and paid durina 2019. Common stock 100,000 50,000 Retained earnings 137,400 104,000 Total liabilities and equity $375,100 $272,000 Additional Information: 1. Net income for 2019 was $58,400. 2. Cash dividends of $25,000 were declared and paid during 2019. 3. During 2019, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable. 4. Common stock was issued for $50,000 cash. 5. Depreciation expense was $18,650, and there were no disposals of equipment. Required: 1. Prepare a statement of cash flows (indirect method) for Beckwith Products for 2019. Use a minus sign to indicate any decreases in cash or cash outflows. Beckwith Products Company Ctotomont of Cooh Clouun