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Flores Company's comparative balance sheets for December 31 of 2018 and 2017 are shown below. Assets Dec 31, 2018 Dec 31, 2017 Increase Decrease $
Flores Company's comparative balance sheets for December 31 of 2018 and 2017 are shown below. Assets Dec 31, 2018 Dec 31, 2017 Increase Decrease $ 117,500 $ 64,400 $ 53,100 Cash Accounts Receivable (net) 12,900 12,200 700 Inventory 36,600 34,000 2,600 Prepaid Expenses 2,300 6,000 $ 3,700 Plant Assets 20,000 Accumulated Depreciation 72,000 (23,700) $ 217,600 52,000 (18,300 $ 150,300 5,400 Total Assets Liabilities and Stockholders' Equity Accounts Payable $ 14,400 $ 14,400 Wages Payable 4,500 4,100 400 Income Tax Payable 7,000 6,800 200 Bonds Payable 54,000 54,000 Common Stock, $10 par 72,000 62,000 10,000 Additional Paid-in Capital 45,000 30,000 15,000 Liabilities and Stockholders' Equity Accounts Payable $ 14,400 $ 14,400 Wages Payable 4,500 4,100 400 Income Tax Payable 7,000 6,800 200 Bonds Payable 54,000 54,000 Common Stock, $10 par 72,000 62,000 10,000 Additional Paid-in Capital 45,000 30,000 15,000 Retained Earnings 27,000 33,000 6,000 (6,300) ----- 6,300 Treasury Stock Total Liabilities and Stockholders' Equity $ 217,600 $ 150,300 The following information is taken from Flores's financial records. During 2018, equipment was sold for $16,800. The equipment had an original cost of $28,000 and a current book value of $20,000. 1,000 shares of common stock were issued for $25 per share. Depreciation expense for 2018 was $13,400. Net income for the year was $8,000. Required: Prepare the investing activities section of the statement of cash flows for Flores Company, indirect method. Note: The operating activities and financing activities sections have been completed. Investing Activities Cash received from: (Choose one) x Cash paid out for: (Choose one) V Net Cash Flow from (used for) Investing Activities
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