PA10. LO 16.4 Use the following excerpts from Wickham Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. Cash Dec 31, 2017 $200,000 35.350 58,200 50.000 160.000 (37,000) 466.550 27.300 12.000 20.000 407.250 466.550 Dec 31, 2018 $225,000 Account Receivable 38.350 Merchandise Inventory 59.500 Land 150,000 Plant Assets 160,000 Accumulated Depreciation (49,000) Total Assets 583.850 Accounts Payable 29.100 Accrued Liabilities 15.500 Common Stock 45,000 Retained Earnings 494.250 Total Liabilities and Equity 583,850 Additional information: Net income for 2018 98,000 Depreciation expense for 2018 12.000 Land purchased, for cash 100,000 Stock issued in exchange for cash, at par value 25,000 Dividends declared and paid 11,000 Solution Wickham Company Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash Flow from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: Depreciation Accounts Receivable Change Merchandise Inventory Change Accounts Payable Change Accrued Liabilities Change Net Cash Flow from Operating Activities Cash Flow from Investing Activities: Purchase of Land Net Cash Flow from Investing Activities Cash Flow from Financing Activities: Proceeds from Stock Issuance Payment of Dividends Net Cash Flow from Financing Activities Total Cash Flow Increase (Decrease) Cash Balance, December 31, 2017 Cash Balance, December 31, 2018