Prepare a statement of cash flows for 2019 using the indirect method.

Exercise 12-9 Here are comparative balance sheets for Sheffield Corp.. Sheffield Corp. Comparative Balance Sheets December 31 Assets 2019 2018 Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $ 73,000 86,500 169,500 73,500 259,800 (66,000) $596,300 $ 32,800 70,500 186,500 101,100 201,000 (34,500) $557,400 $ 35,400 149,200 216,200 195,500 $596,300 $ 47,500 203,100 174,000 132,800 $557,400 Additional information: 1. Net income for 2019 was $103,900. 2. Cash dividends of $41,200 were declared and paid. 3. Bonds payable amounting to $53,900 were redeemed for cash $53,900. 4. Common stock was issued for $42,200 cash. 5. No equipment was sold during 2019, but land was sold at cost. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts that decrease cash flow with either a-sion e.g.-15,000, or in parenthesis e.g. (15,000).) Sheffield Corp. Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operating Activities Net Income 103,900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receivable V Decrease in Inventory Decrease in Accounts Payable Net Cash Provided by Operating Activities Net Cash Provided by Tnvesting Activities k me anything ON a W e Que a 12/3/2 Net Cash Provided by Investing Activities Sale of Land Purchase of Equipment Net Cash Used by Investing Activities Cash Flows from Financing Activities Issuance of Common Stock