Problem 11-55A (Algorithmic) Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 Assets: Cash $33,200 $12,750 Accounts receivable 53,000 44,800 Inventory 29,500 27,500 Prepaid rent 2,200 6,200 Investments (long-term) 17,600 31,800 Property, plant, and equipment 162,000 149,450 Accumulated depreciation (61,600) (56,200) Total assets $235,900 $216,300 Liabilities and Equity: Accounts payable $16,900 $19,500 Interest payable 3,500 4,800 Wages payable 9,600 7,100 Income taxes payable 5,500 3,600 Notes payable 28,800 53,000 Common stock 100,000 68,500 Retained earnings 71,600 59,800 Total liabilities and equity $235,900 $216,300 Additional Information: 1. Net income for 2019 was $19,700. 2. Cash dividends of $7,900 were declared and paid during 2019. 3. Long-term investments with a cost of $28,600 were sold for cash at a gain of $4,100. Additional long-term investments were purchased for $14,400 cash. 4. Equipment with a cost of $14,800 and accumulated depreciation of $13,500 was sold for $3,800 cash. New equipment was purchased for $27,350 cash. 5. Depreciation expense was $18,900. 6. A principal payment of $24,200 was made on long-term notes. 7. Common stock was sold for $31,500 cash. Required: Prepare a statement of cash flows for Erie, using the indirect method to compute net cash flow from operating activities. Use a minus sign to indicate any decreases in cash or cash outflows. If an answer is zero, enter "O". Erie Company Statement of Cash Flows For the year ended December 31, 2019 Cash flows from operating activities: O Adjustments to reconcile net income to net cash provided by operating activities: Quil011 Net cash provided by operating activities Cash flows from investing activities: $o