r 16 Statement of Cash Flows ms: Series A PR 16-1A Statement of cash flows-indirect method 081.2 rom The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown es, as follows: Dec. 31, 20Y2 Dec. 31, 20Y3 .155,000 70,000 Assets 5 150,000 Cash Accounts receivable (net) Inventories Investments Land Equipment. Accumulated depreciation-equipment 750,000 100,000 1,200,000 (500,000) 1,400,000 (600,000) $2,675.000 Total assets $2,100,000 Liabilities and Stockholders'Equity 340,000 45,000 ..30,000 700,000 Paid-in capital: Excess of issue price over par-common stock. 200,000 1360,000 $2,675,000 Accounts payable $ 300,000 50,000 25,000 600,000 175,000 950,000 $2,100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. eThere was a $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. PR 16-2A Statement of cash flows-indirect method OBJ. 2