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Problem 1 (Textbook Reference P11-5)-Prepare a statement of cash flows under the indirect method The following comparative balance sheets and other data are for Dayton Tent & Awning Sales, Inc. DAYTON TENT& AWNING SALES, INC. Comparative Balance Sheets June 30, 2013 and 2012 2012 2013 Cash Accounts receivable, net Merchandise invent 32.600 S 432900 S850.200 5,850 S 312000 S 351,000 S 1209,000 S 468,000 S 819,000 Land Buik Machinery and tools Accumulated depreciation machinery and tools Total assets 184,000 S 858,000 809,250) iabilitie s and Equit Accounts Accrued labiities payab Bank bans (due in 2016 Mort Common stock $100 Paid-n c Retained eam Total labilities and stockhoklers able 750 275 500 185,800111,700 66.300 S 185.250 1,755,000 S585,000 550 bonds payable n excess of 400 S 4,560,200 S 3.138,650 Net income for th Depreciation for the year was There was a gain on the sale of arnd of The land was sold for The additional mortgage bonds were issued at face value as partial payment for a buikding valued at The amount of cash paid for the buikling was Machinery and tools were purchased for Fully Additional common stock was issued at $105 per share. The total Dividends declared and paid were: S 28,000 S 356 7,800 975,000 S 778,050 S 448,500 58,500 S 1,228,500 S 147,500 ciated mac was scrapped and written off with a cost of eds were: nt was made on the bank han The c The c d interest of ny paid income taxes of Required: Prepare a statement of cash flows under the indirect method and any supplemental schedules. Template provided next pg DAYTON TENT& AWNING SALES, INC State ment of Cash Flows For the Year Ended June 30, 2013 ustments to reconcile net income to net cash provided by actmties (Increase) decrease accourts recenable decrease in merchandise ad nsurance Increase Increase (decrease) in accrued liabilities Gan on sale ofund n accounts sed actmtics Cash Proceeds from sale of hnd Purchase of buiding (cash Purchase of and toos Net cash provided (used acttES ash Proceeds from ssance of common stock Dividends paid Bank ban reduction activiies: sed) by fnancing activities Net cash Net increase (decrease) in cash Cash baance Cash balance, December 31, 2013 Schedule of noncash investing and financing activities bonds ssued as for ciated mc Retirement of emental cash Interest Income taxes