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Problem 12-2 Larry's Landscaping May Statement of Cash Flows The following are the Balance Sheets for Larry's Landscaping as of April 30, 2023 (the end of last period) and May 31, 2023 (the end of this period): I_ILOQQ May 31. 2023 .. $ 18,000 Cash . Accounts Receivable 6,000 Supplies 1,100 Prepaid Insurance 3,000 Total Current Assets 28,100 Equipment . 44,000 Building 100,000 Accumulated Depreciation Equipment . (1,600) Accumulated Depreciation Building (3,000) Land 20 000 Total Property, Plant & Equipment 159,400 $13%500 Liabilities .. $ 1,500 Wages Payable Interest Payable Total Current Liabilities 1 ,500 Note Payable Long-Term Total Liabilities 106,500 ers' E ui Common Stock . 6,000 Paid-in Capital in Excess of Par Value 54,000 Retained Earnings . 21 ,ooo Total Owners' Equity 81 ,ooo $13%500 Total Liabilities and Equity April 30. 2023 $ 21,000 1,500 3,300 25,800 40,000 100,000 (1,000) (2,000) 20 000 157,000 110,550 6,000 54,000 12,250 72,250 The following is additional information for the period May 1 to May 31, 2023: Additional Equipment was purchased for $4,000 cash. A $5,000 cash payment was made to pay down the Note Payable. The Income Statement for May showed a Net Income of $8,750. No Dividends were declared during the month of May. Problem 12-2 Statement of Cash Flows for May 1 to May 31, 2023 Larry's Landscaping Statement of Cash Flows (Indirect Method) for the Period May 1 to May 31, 2023 Cash Flows from Operating Activities Net Income Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Used by Investing Activities Cash Flows from Financing Activities Cash Used by Financing Activities Decrease in Cash from May 1 to May 31, 2023 Beginning Cash Balance May 1 , 2023 Decrease in Cash from May 1 to May 31 , 2023 Ending Cash Balance May 31, 2023