Print 1 PR 13-01 ALGO (Algorithmic) Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash Accounts receivable (net) Inventories Investments Land $298,420 $275,680 108,110 99,010 305,170 293,150 0 113,570 156,530 336,700 259,180 (78,830) (69,890) Accumulated depreciation-equipment Total assets $1,126,100 $970,700 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $203,820 $191,230 Type here to search otal assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $203,820 $191,230 20,270 25,240 11,260 8,740 60,810 47,560 228,600 132,020 601,340 565,910 $1,126,100 $970,700 Total liabilities and stockholders equity Additional data obtained from an examination.of the accounts in the ledger for 20Y3 are as follows a. The investments were sold for $132,880 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year d. The common stock was issued for cash. e. There was a $81,050 credit to Retained Earnings for net income f. There was a $45,620 debit to Retained Earnings for cash dividends declared Required: sh flows. usina the indirect method of oresentina cash flows from operating activities. Use the minus sic Type here to search 8 un Required: sho Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, Livers Inc. Statement of Cash Flows For the Year Ended December 31, 2003 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from investing activities: O Type here to search 40 Changes in current operating assets and Sabilities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year O oe@9. . Type here to search