Equipment Date Debit Credit Balance Jan. 1 Balance 158,600 July 31 Purchase of equipment 69,800 228,400 Sept. 2 Cost of equipment constructed 54,400 282,800 Nov. 10 Cost of equipment sold 49,500 233,300 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 69.800 Nov. 10 Accumulated depreciation on equipment sold 31,700 38,100 Dec. 31 Depreciation for year 23,400 61,500 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 105, 200 Aug. 23 Dividends (cash) 17.100 88,100 Dec 31 Net income 66,000 154,100 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indir The loss on disposal of plant assets was $4,200. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $54,400.) (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis es (15,000) HERRICK CORP Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ 66,000 Adjustments to reconcile net income to NetCash Provided by Operating Activities Depreciation Expense $ 23,400 Loss on Disposal of Plant Assets Net Cast Provided by Operating Activities Cash Flows from investing Activities Construction of Equipment Sule of Equipment Cash Flows from Investing Activities Construction of Equipment Sale of Equipment Purchase of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends