Screen Shot 2019-01-27 at 8.23.39 PM Screen Shot 2019-01-27 at 8.23.48 PM Search Problem 13-14 Prepare and Interpret a Statement of Cash Flows [LO13-1, LO13-2) e. The subsidiaries did not repay any outstanding loans during the year E Lomax did not repurchase any of its own stock during the year. A comparative balance sheet for Lomax Company containing deta for the last two years is as follows: The company reported net income this year as follows Lonax Cerpany Conparative alance Sheet 53,360,000 Cost of goods seld Gross margin Selling and Net opeeating incone Cash and cash equivalents 99,000 64,400 5S, 000 30,000 1 , 025, 400 26,000 629.60 Gain on sale of investments Loss on sale ot equipnent $ 79.800 Total current sssets PEoperty plant, and egipment 54,400 Lea aceunulated deprociation Not property, plant, and oquipront Long-term investnents 98.000 to subsidiaries Total assets Liabilitios and Eqaity Required: Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash outflows as negative 898,800 598, 00 ccraed liabilizies 5,90 S0, 200 132,400 income taze payable Screen Shot 2019-01-27 at 8.23.59 PM Bonds payable Total 1iabilitiea Stockholders equisys Q Search Cormon stock Retained earnings ,126, 00 1,018, 000 Tosal atockholdera equity Total liabilities and stockholders' equicy The fellowing additional information is available about the compeny's activities during this yeer a. The company declared and paid a cash dividend this year b. Bonds with a principal balance of $398,000 were repald during this year Equipment was sold during this year for $79,000. The equijpment had cost $166,000 and had $61,600 in accumulated depreciation on the date of sale. d. Long-term investments were sold during the year for $146,000. These investments hed cost $66,200 when purchased several years ego Screen Shot 2019-0...3.59 PM