Exercise 16-144 Indirect: Cash flows spreadsheet P4 Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Prepare the spreadsheet as in Exhibit 16A. x under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following transactions and events a through a. Net income for the year was $500,000. b. Dividends of $80.000 cash were declared and paid. c. The only noncash expense was $70,000 of depreciation d. Purchased plant assets for 50.000 cash. e. Notes payable of $20,000 were issued for 320,000 cash. . 5-0.000 increase in accounts receivable 8. 520.000 decrease in inventory. h. 550 000 decrease in accounts payable: Dec. 31, 2019 $ 60,000 190,000 230,000 670,000 $1,150,000 SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2019 Analysis of Changes Dec. 31, 2018 Debit Credit Balance Sheet-Debit Bal. Accounts Cash $ 80,000 Accounts receivable 120,000 Inventory 250,000 Plant assets 600,000 $1050,000 Balance Sheet-Credit Bal. Accounts Accumulated depreciation $ 100,000 Accounts payable 150,000 Notes payable 370,000 Common stock 200,000 Retained earnings 230,000 S1050,000 Statement of Cash Flows Operating activities Not income Increase in accounts receivable Decrease in inventory Decrease in accounts payable Depreciation expense Investing activities Cash paid to purchase plant assets Financing activities Cash paid for vidends Cash from suance of notes $ 170,000 140,000 390,000 200,000 250,000 $1,150.000