ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME 31,250 3,750 EQUIPMENT WAS PURCHASED, ON CASH COSTING LAND WAS SOLD FOR NET INCOME EANED IN CURRENT YEAR DIVIDENDS DECLARED AND EARNED STOCK WAS ISSUED FOR CASH 14000 4500 BALANCE SHEET CURRENT YEAR PRIOR YEAR 16250 13500 19500 21250 26625 22500 CASH ACCOUNTS RECEIVABLE (NET) INVENTORIES LAND EQUIPMENT ACCUMULATED DEPRECIATION 0 5000 123750 92500 -53750 -39500 132375 115250 0 0 13375 13750 50000 42500 ACCOUNTS PAYABLE (MERCHANDISE CREDITORS) COMMON STOCK, $10 PAR PAID-IN CAPITAL IN EXCESS OF PAR-COMMON STOCK RETAINED EARNINGS 15500 15000 53500 44000 132375 115250