etod of presenting cash llows Irom PR 13-2B Statement of cash flows-indirect method ash flow ing activities, as follows: Obj. 2, 3, 4,5 from The comparative balance sheet of Harris Industries Inc, at December 31, 20Y4 and 20Y5, 1 cash flow $561,400 Assets Dec. 31, 20Y4 Dec. 31, 20Y3 Cash TEMPLATE Accounts receivable (net) $443,240 $360,920 592,200 1,022,560 Inventories 665,280 Prepaid expenses Land 887,880 25,200 302,400 1,134,000 (414,540) 781,200 31,640 302,400 Buildings 1,713,600 466,200) 781,200 (214,200) Accumulated depreciation-machinery and equipment.... Patents (191,520) 112,000 106,960 $4,251,800 $3,724,420 Total assets . . (Continue 656 Chapter 13 Statement of Cash Flows Liabilities and Stockholders' Equity . $ 837 480 32,760 78,960 224,000 Accounts payable (merchandise creditors) Salaries payable Mortgage note payable, due in nine years.... .. Bonds payable .. 0 200,400 366,000 2,512.200 $4,251,800 Paid-in capital: Excess of issue price over par-common stock... 53,724 led the An examination of the income statement and the accounting records revea additional information applicable to 20Y4: A. Net income, $524,580. Depreciation expense reported on the income statement: buildings, $51,660; ldings, machinery and B. Depreciation expense $22,680. C. Patent amortization reported on the income statement, $5,040. D. A building was constructed for $579,600. E. A mortgage note for $224,000 was issued for cash. F. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. G. Cash dividends declared, $131,040 Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows operating activities