Statement of Cash Flows The comparative balance sheet of Coulson, Inc., at December 31,20Y2 and 20Y1, is as follows: Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock, $20 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity \begin{tabular}{rr} $594,000 & $631,200 \\ 26,400 & 21,600 \\ 330,000 & 0 \\ 320,000 & 180,000 \\ 950,000 & 810,000 \\ 2,822,000 & 2,574,600 \\ \hline$5,042,400 & $4,217,400 \\ \hline \end{tabular} The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT Land ACCOUNT NO. ACCOUNT Buildings ACCOUNT NO. \begin{tabular}{c|c|c|c|c|c} \hline \multirow{2}{*}{ Date } & \multirow{2}{*}{ Item } & \multirow{2}{*}{ Debit } & Credit & Debit & Credit \\ \cline { 3 - 6 } & & Balance \\ \hline \end{tabular} ACCOUNT Bulldings ACCOUNT NO. ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. ACCOUNT Equipment ACCOUNT NO. ACCOUNT Common Stock. $20 nar ACCOUNT Paid-in Capital in Excess of Par-Common Stork Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Us cach outflows. cash payments, decreases in cash, or any negative adjustments. Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use t cash outfiows, cash payments, decreases in cash, or any negative adjustments. Coulson, Inc. Statement of Cash Flows Ene tha Maam Emalad Tamamban 21 anvh Increase in prepaid expenses Decrease in accounts payable Decrease in income taxes payable Net cash flows from operating activities Cash flows from (used for) investing activities: Cash recelved from customers x Cash paid for acquisition of building V Cash received from issuing common stock Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31,20y2 Fexdtsok Check My Work