Statement of Cash FlowsIndirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, ZOYZ and 20Y1, is as follows: Dec. 31, Dec. 31, ZDYZ 201'1 Assets Cash $183 $14 Accounts receivable (net) 55 49 Inventories 117 99 Land 250 330 Equipment 205 175 Accumulated depreciationiequipment [68) (42) Total assets $742 $625 liabilities and Stockholders' Equitv Accounts payable (merchandise creditors) $51 $37 Dividends payable 5 - Common stock, $1. par 1.25 Bl] Paid-in capital: Excess of issue price over par 85 7!] common stock Retained eaminos 476 433 Total liabilities and smckholders' equity $742 $525 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was acquired for cash. c. 111ere were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $62 credit to Retained Earnings for net income. f. 111ere was a $24 debit to Retained Earnings for cash dividends declared. \fStatement of Cash FlowsIndirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 201'3 Dec. 31, 2012 Assets Cash $244,600 $228,850 Accounts receivable (net) 88,610 82,190 Inventories 250,140 243,350 Investments 0 94,280 Land 128,300 0 Equipment 275,980 215,150 Accumulated depreciationequipment [64,610] (58,020) Total assets $923,020 $805,800 Liabilities and Stockholders' Equity Accounts payable {merchandise creditors) $167,070 $158,740 Accrued expenses payable (operating expenses) 16,610 20,950 Dividends payable 9,230 7,250 Common stock, $10 par 49,840 39,480 Paidiin capital: Excess of issue price over paracommon stock 187,370 109,590 Retained earnings 492,900 469,790 Total liabilities and stockholders' equity $923.020 $305,300 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $110,310 cash. b. Equipment and land Iwere acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $60,980 credit to Retained Earnings for net income. f. There was a $37,870 debit to Retained Earnings for cash dividends declared. There was d $57,070 debit to Netd calllings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Livers Inc. Statement of Cash Flows For the Year Ended December 31, 20Y3 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from investing activities: 1000 JOOC Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year