OBJ. 2 PR 16-1A Statement of cash flows-indirect method The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown Dec. 31, 2016 Dec. 31, 2015 Net cash flow from operating activities, $143,540 as follows: Assets $ 625,760 227,840 641,760 0 328,000 705,120 (166,400) $2,362,080 $ 585,920 208,960 617,120 240,000 0 553,120 (148,000 $2,057,120 SHOW ME HOW Cash Accounts receivable (net) Inventories Investments Land 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. f. 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