PR 13-2B Statement of cash flows-indirect method Obj. 2, 3, 4, 5 The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 2043, is as follows: SHOW ME HOW X EXCEL TEMPLATE Dec 31, 2014 Dec 31, 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses Land Buildings Accumulated depreciation buildings 5443,240 665,280 887,880 31640 302.400 1713.600 (406200) $360,920 592,200 1.022.560 25.200 302.400 1.134.000 (4145403 Dec. 31, 2014 Dec. 31, 20Y3 Assets Cash Accounts receivable (net) Inventories Prepaid expenses Land .... Buildings Accumulated depreciation-buildings. Machinery and equipment... Accumulated depreciation--machinery and equipment..... Patents.... Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable... Salaries payable... Mortgage note payable, due in nine years. Bonds payable Common stock. $5 par Paid-in capital: Excess of issue price over par-common stock Retained earnings.. Total liabilities and stockholders' equity. $ 443,240 665,280 887,880 31,640 302,400 1,713,600 (466,200) 781,200 (214,200) 106,960 $4,251,800 $ 360,920 592,200 1,022,560 25,200 302,400 1,134,000 (414,540) 781,200 (191,520) 112,000 $3,724A20 $ 837.480 32,760 78,960 224,000 o 200,400 366,000 2,512,200 $4,251,800 $ 927,080 25,200 87,080 0 390,000 50,400 126,000 2,118,660 $3.724,420 An examination of the income statement and the accounting records revealed the following additional information applicable to 20Y4: A. Net income, $524,580. B. Depreciation expense reported on the income statement: buildings, $51,660; machinery and equipment, $22,680 C. Patent amortization reported on the income statement, $5,040. D. A building was constructed for $579,600. E. A mortgage note for $224,000 was issued for cash. F-30,000 shares of common stock were issued at $13 in exchange for the bonds payable. G. Cash dividends declared, $131,040. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from C. Patent amortization reported on the income statement, $5,040. D. A building was constructed for $579,600. E. A mortgage note for $224,000 was issued for cash. F. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. G. Cash dividends declared, $131,040. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities