Prepare a statement of cash flows using the indirect method. (show amounts that decrease cash flow with either a - sign or in parentheses)

Do It! Review 12-2b Kingbird, Inc. reported the following information for 2019. ded 12-1 Kingbird, Inc. Comparative Balance Sheets December 31 12-2 e 12-4 12-5 e 12-7 w 12-1 w 12-2a w 12-26 ew 12-3 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals 2019 $59,850 62,030 44,210 6,040 54,480 200,020 (21,210) 182,170 (27,730) $559,860 2018 $35,980 22,100 -0- 4,000 70,570 200,020 (14,140) 68,020 (9,900) $376,650 Change Increase/Decrease $23,870 Increase 39,930 Increase 44,210 Increase 2,040 Increase 16,090 Decrease -0- 7,070 Increase 114,150 Increase 17,830 Increase OS ults by tive $43,240 0 99,640 229,770 187,210 $559,860 $39,900 10,020 149,930 60,400 116,400 $376,650 $3,340 Increase 10,020 Decrease 50,290 Decrease 169,370 Increase 70,810 Increase Kingbird, Inc. Income Statement dod DOC I'm Cortana. Ask me anything. W 39,800 3370,000 CALCULATOR PRINTER VERSION BACK NEXT Kingbird, Inc. Income Statement For the Year Ended December 31, 2019 Sales revenue $935,790 Cost of goods sold $471,580 Operating expenses 229,540 Interest expense 12,020 Loss on disposal of plant assets 2.000 715,140 Income before income taxes Income tax expense Net income 220,650 64,710 $155,940 Additional information: 1. Operating expenses include depreciation expense of $40,120. 2. Land was sold at its book value for cash. 3. Cash dividends of $85,130 were declared and paid in 2019. 4. Equipment with a cost of $165,150 was purchased for cash. Equipment with a cost of $51,000 and a book value of $35,780 was sold for $33,780 cash. 5. Bonds of $50,290 were redeemed at their face value for cash. 6. Common stock ($1 par) of $169,370 was issued for cash. Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Kingbird, Inc. Statement of Cash Flows-Indirect Method