Question 2 Your answer is partially correct. Try again. The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Debit Credit Balance Date Jan. 1 July 31 Sept. 2 Nov. 10 Purchase of equipment Cost of equipment constructed Cost of equipment sold 71,900 55,000 Balance 160,000 231,900 286,900 238,700 48,200 Date Credit Jan. 1 Nov. 10 Dec. 31 Accumulated Depreciation Equipment Debit Balance Accumulated depreciation on equipment sold 30,700 Depreciation for year Balance 70,100 39,400 64,400 25,000 Retained Earnings Debit Credit Date Jan. 1 Aug. 23 Dec. 31 Balance Dividends (cash) Net income Balance 105,200 86,300 152,400 18,900 66,100 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. 5,200. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $55,000.) (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) HERRICK CORP T Net Cash Provided by Operating Activities T Depreciation Expense 25000 T Loss on Disposal of Plant Assets 5200 T 30200 Net Cash Provided by Operating Activities : 1 96300 T Cash Flows from Investing Activities T Purchase of Equipment -71900 T Construction of Equipment -55000 Purchase of Equipment 12300 T Net Cash Used by Investing Activities : I -114600 T Cash Flows from Financing Activities : T Payment of Cash Dividends Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT