Financial Accounting, 14th Edition Problems: Series A Net cash flow from operating activities, $143.540 PR 16-1A Statement of cash flows-indirect method OBJ. 2 The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown as follows: Dec 31, 2016 Dec. 31, 2015 $ 625,760 Cash Accounts receivable (net)..... Inventories ... Investments. 227,840 641,760 $ 585,920 208,960 617,120 240,000 Land. 328,000 705,120 (166,400) $2,362,080 553,120 (148,000) $2,057,120 Equipment. Accumulated depreciation equipment....... Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) ......... Accrued expenses payable (operating expenses) ... Dividends payable.... Common stock, $4 par. Paid in capital: Excess of issue price over par common stock..... Retained earnings...... Total liabilities and stockholders' equity...................... $ 424,480 42,240 24,000 150,000 417,500 1,303,860 $2,362,080 $ 404,960 52.640 19,200 100,000 280,000 1,200,320 $2,057,120 Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows: a. The investments were sold for $280,000 cash, b. Equipment and land were 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 $199,540 credit to Retained Earnings for net income. 1. There was a $96,000 debit to Retained Earnings for cash dividends declared, Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities