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 2,200 6,200 Prepaid rent Investments (long-term) Property, plant, and equipment Accumulated depreciation 17,600 31,800 162,000 149,450 (61,600) (56,200) Total assets $235,900 $216,300 Liabilities and Equity: $16,900 $19,500 3,500 4,800 Accounts payable Interest payable Wages payable Income taxes payable Notes payable Common stock 9,600 7,100 5,500 3,600 30,100 53,000 100,000 68,500 Retained earnings '70,300 59,800 Retained earnings 70,300 59,800 Total liabilities and equity $235,900 $216,300 Additional Infornbution: 1. Net Income for 2019 was $18,900, 2. Cash dividends of $8,400 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 tong-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 $22,900 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". Eric Company Statement of Cash Flows For the year ended December 31, 2019 Cash flows from operating activities Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: . Net cash provided by operating activities Cash flows from investing activities: Net cash used for investing activities . Cash flows from financing activities: _ Net cash used for financing activities Cash, 1/1/2019 Cash, 12/31/2019