Problem 12-11A The comparative balance sheets for Marigold Corp. as of December 31 are presented below. Marigold Corp. Comparative Balance Sheets December 31 Assets 2019 2018 Cash $57,900 $48,700 Accounts receivable 43,500 62,400 Inventory 149,000 144,400 Prepaid expenses 13,500 25,500 Land 100,400 133,400 Buildings 200,800 200,800 Accumulated depreciation-buildings (58,200) (32,000) Equipment 228,300 155,400 Accumulated depreciation equipment (42,500) (35,900) Total $692,700 $702,700 Liabilities and Stockholders' Equity Accounts payable $46,100 $39,800 Bonds payable 260,000 292,000 Common stock, $1 par 191,800 159,800 Retained earnings 194,800 211,100 Total $692,700 $702,700 Additional information: 1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $12,000. 2. Land was sold for cash at book value. 3. Cash dividends of $62,200 were paid. 4. Net income for 2019 was $45,900. 5. Equipment was purchased for $94,500 cash. In addition, equipment costing $21,600 with a book value of $12,400 was sold for $5,600 cash. 6. Bonds were converted at face value by issuing 32,000 shares of $1 par value common stock. Prepare a statement of cash flows for the year ended December 31, 2019, 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).) Marigold Corp. Statement of Cash Flows $ Adjustments to reconcile net income to I > >