Please check if this is correct.

Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 Cash flows from operating activities: Net income 51,000 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 57,000 Loss on sale of equipment 5,000 Changes in current operating assets and liabilities: Decrease in accounts receivable 7,000 Increase in inventories -11,500 Increase in accounts payable 3,500 Net cash flow from operating activities 11,200 Cash flows from investing activities: Cash received from sale of equipment 15,000 Cash paid for purchase of equipment -125,000 Net cash flow used for investing activities 110,000 Cash flows from financing activities: Cash received from issuance of common stock 32,000 Cash paid for dividends 12,000 Net cash flow provided by financing activities: 20,000 Change in cash 22,000 Cash at the beginning of the year 78,000 Cash at the end of the year 100,000On the basis of the following data for Larson Co. for the year ending December 31 Year 2, and the preceding year ended December 31 Year 1, prepare a statement of cash flows. Use the in reporting cash flows from operating activities. In addition to the balance sheet data, assume that: Equipment costing $125,000 was purchased for cash. Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000. The stock was issued for cash. The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000. Year 2 Year 1 Assets Cash $100,000 $78,000 Accounts receivable (net) 78,000 85,000 Inventories 101,500 90,000 Equipment 410,000 370,000 Accumulated depreciation (150,000) (158,000) Total assets $539,500 $465,000 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $58,500 $55,000 Cash dividends payable 5,000 4,000 Common stock, $10 par 200,000 170,000 Paid-in capital in excess of par-common stock 62,000 60,000 Retained earnings 214,000 176,000 Total liabilities and stockholders' equity $539,500 $465,000 Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 ( pr