Ravenna Company is a merchandiser that uses the Indirect method to prepere the opereting actvites section of its statement of cash flows. Its balence sheet for this year is as follows Cash Accounts recelvable Inventory Balance S 56,200 66,950 47,10050,600 63,20057,500 Total current assets 166,500 175,050 Property, plant, and equipment Less accumulated depreciation 171,000 161,000 57,00040,250 Net property, plant, and equipment 114,000 120,750 Total assets $280,500 $295,800 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings s 36,800 65,500 28,700 33,800 69,000 57,500 80,500 69,000 65,500 70,000 Total liabilities and stockholders equity $280,500 $295.800 During the year, Ravenna paid e $6.900 cash dividend and it sold e plece of equipment for $3,450 that hed onginolly cost $7,200 and had accumulated depreciation of $4.800. The company dia not retre any bonds or repurchase any of its own common stock during the year sh dividend and It sold a plece of equipment for $3,450 that hed References