Statement of Cash Flows The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows: a. net income, $59,200 b. payment for purchase of building, $98,000 c. increase in accounts recelvable, $7,400 d. proceeds from issuance of common stock, $37,100 e. increase in accounts payable, $4,500 f. proceeds from sale of land, $7,000 9. depreciation expense, $12,600 h. payment of dividends, $36,000 1. gain on sale of land, $5,300 J. decrease in inventory, $3,700 k. payment for purchase of long-term investments, $9,600 I. amortization of discount on bonds payable, $1,900 m. proceeds from issuance of note, $18,000 n. increase in deferred taxes payable, $5,000 o. equipment acquired by capital lease, $19,500 p. decrease in salaries payable, $2,300 q. beginning cash balance, $20,300 1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. WARRICK COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Operating Activities: Net income Adjustment for noncash income items: Add: Depreciation expense . Add: Amortization of discount on bonds payable Add: Accumulated depreciation X Less: Gain on sale of land Adjustments for cash flow effects from working capital items: Increase in accounts payable X Decrease in inventory Decrease in accounts payable X Decrease in salaries payable Net cash provided by operating activities Investing Activities: Payment for purchase of building Proceeds from sale of land Net cash provided by operating activities Investing Activities: Rayment for purchase of bulding Proceceds from sale of land Rayment for purchase of long-term investments 58,000 7,000 9,600 Net cash used for investing activities Financing Activities: Brocects from issuance of common stock Pavment for purchase of equipment =X Proceeds from issuance of note x Net cash provided by financing activities Wet decrease in cosh w Gashi,1anuary 1.2019 Cash, December 31,2019 Investing and Financing Activities Not Affecting Cash Investing Activities: Acouistion of equipment under capital lease Financing Activities: Zncurrence of capical iease obligation for equipment i 19,500x 2. Assume the company's preferred stock has been selling for $120 per share during 2019 . How many shares would the company have had to issue to avold having a decrease in cash during the year? shares