Exercise 12-09 Your answer is partially correct. Try again. Here are comparative balance sheets for Splish Brothers Inc.. Splish Brothers Inc. Comparative Balance Sheets December 31 Assets 201 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 72,600 86,300 170,500 73,800 260,000 (65,900) $597,300 $ 33,000 71,400 186,600 100,800 200,800 (34,100) $558,500 $ 35,400 151,100 214,900 195,900 $597,300 $ 47,000 204,000 174,700 132,800 $558,500 Additional information: 1. Net income for 2020 was $104,800. 2. Cash dividends of $41,700 were declared and paid. 3. Bonds payable amounting to $52,900 were redeemed for cash $52,900. 4. Common stock was issued for $40,200 cash. 5. No equipment was sold during 2020, but land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts Splish Brothers Inc. Statement of Cash Flows Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a sign .g.-15,000, or in parenthesis LR SHANLARU VELN PRINTER VERSION BAC - (15,000). Splish Brothers Inc. Statement of Cash Flows For the Year Ended December 31, 2020 3 TCash Flows from Operating Activities T Net Income 104800 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receivable 1 Decrease in Inventory T increase in Accounts Payable 11600 Net Cash Provided by Operating Activities 149400 Cash Flows from Investing Activities 1 Purchase of Equipment Sale of Land 27000 Net Cash Used by Investing Activities : T -32200 Cash Flows from Investing Activities Purchase of Equipment -59200 27000 Sale of Land T Net Cash Used by Investing Activities -32200 T Cash Flows from Financing Activities Issuance of Common Stock 40200 X T Redemption of Bonds 52900 Payment of Cash Dividends 41700 Net Cash Used by Financing Activities 510000 Net Increase in Cash 627200 TCash at Beginning of Period 33,000 Cash at End of Period 660200 Click if you would like to Show Work for this question: Open Show Work