NCIPLES ES Exercise 17-07 CALCULATOR FULL SCREEN PRINTER VER The following three accounts appear in the general ledger of Herrick Corp, during 2020. Equipment Date Debit Credit Balance Jan. 1 Balance tion July 31 Purchase of equipment tion Sept. 2 Cost of equipment constructed 159,000 227,100 280,000 48,200 231,800 68,100 52,900 Nov. 10 Cost of equipment sold eo) Accumulated Depreciation-Equipment Date an. 1Balance Nov. 10 Accumulated depreciation on equipment sold Dec. 31 Depreciation for year Debit Credit Balance 71,200 40,200 24,00064,200 tudy 31,000 Retained Earnings Date Jan. 1 Balance Aug. 23 Dividends (cash) Dec. 31 Net income DebitCredit Balance 104,900 88,500 68,000 156,500 16,400 From the postings in the accounts, indicate how the information is reported on a statement of cash fows using the indirect method. The loss on disposa of plant assets was $5,400. (Hint: Cost of equipment constructed is ivities section as a decrease in cash of S52,900.) (Show amounts that decrease cash flow with either asign eg15,000 or in parenthesis eg ( HERRICK CORP Version 4.2 Reserved ADivisin of lonn Wley &Sons Jos 1 privacy Policy 2000-2018