Problem 11-55A (Algorithmic) Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 $33,200 $12,750 53,000 44,800 29,500 27,500 Assets: Cash Accounts receivable Inventory Prepaid rent Investments (long-term) Property, plant, and equipment Accumulated depreciation 6,200 2,200 17,600 31,800 149,450 162,000 (61,600) (56,200) Total assets $235,900 $216,300 $16,900 $19,500 3,500 4,800 9,600 7,100 Liabilities and Equity: Accounts payable Interest payable Wages payable Income taxes payable Notes payable Common stock Retained earnings Total liabilities and equity 5,500 3,600 31,500 53,000 68,500 100,000 68,900 59,800 $235,900 $216,300 Additional Information: 1. Net income for 2010 Additional Information 1. 2018 w S..0 2. Chiddende 5.500 were declared and paddining 2013 Longineets with a cost of $20,000 resold forth gan of 14100 Additional long term investments were purchased for $14.400 cash with cost of $14,000 and accumulated depreciation of $13.500 was for $3,000 woment was purchased for $27,350 cash 5. Depreciation 515,900 A paleto 1,500 was made a long termos 7. Common tack mour 1,500 cash Request Ere Company Statement of Cash Flow For the ended December 11, 2019 Carming activities Welcome Accome to cash wided lowering Depreciation perse 18.00 dan investments Galatan seguint De onts receivable Dernierste Net cash provided by operating activities Cash flows from investing activities: Gain on sale of equipment Purchase of investments Gain on sale of investments | QIII II . Net cash used for investing activities Cash flows from financing activities: Payment of dividends Repayment of long-term note Proceeds from issuance of common stock Net cash used for financing activities Net increase (decrease in cash Cash, 1/1/2019 Cash, 12/31/2019 Problem 11-55A (Algorithmic) Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 $33,200 $12,750 53,000 44,800 29,500 27,500 Assets: Cash Accounts receivable Inventory Prepaid rent Investments (long-term) Property, plant, and equipment Accumulated depreciation 6,200 2,200 17,600 31,800 149,450 162,000 (61,600) (56,200) Total assets $235,900 $216,300 $16,900 $19,500 3,500 4,800 9,600 7,100 Liabilities and Equity: Accounts payable Interest payable Wages payable Income taxes payable Notes payable Common stock Retained earnings Total liabilities and equity 5,500 3,600 31,500 53,000 68,500 100,000 68,900 59,800 $235,900 $216,300 Additional Information: 1. Net income for 2010 Additional Information 1. 2018 w S..0 2. Chiddende 5.500 were declared and paddining 2013 Longineets with a cost of $20,000 resold forth gan of 14100 Additional long term investments were purchased for $14.400 cash with cost of $14,000 and accumulated depreciation of $13.500 was for $3,000 woment was purchased for $27,350 cash 5. Depreciation 515,900 A paleto 1,500 was made a long termos 7. Common tack mour 1,500 cash Request Ere Company Statement of Cash Flow For the ended December 11, 2019 Carming activities Welcome Accome to cash wided lowering Depreciation perse 18.00 dan investments Galatan seguint De onts receivable Dernierste Net cash provided by operating activities Cash flows from investing activities: Gain on sale of equipment Purchase of investments Gain on sale of investments | QIII II . Net cash used for investing activities Cash flows from financing activities: Payment of dividends Repayment of long-term note Proceeds from issuance of common stock Net cash used for financing activities Net increase (decrease in cash Cash, 1/1/2019 Cash, 12/31/2019