Statement of cash flows-indirect method Labeis and Amount Descriptions Instructions The comparative balance sheet of Livers inc. for December 31, 20Y3 and 20Y2, is shown as follows: Addional data cesained trom 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 tand were acquied for cash. c. There were no dispesals of equpment during the year. d. The common stock was issued for cash. e. There was a $00,000 credit to Retained Earnings for net income. 1. Theer was a $90,000 debin to Retained Eamings for cash dividends deciared. Required: Labeis and Amount Descriptions Labels Cash flows trom (used foc) eperating actrvities Cash flows trom (used for) investing activites Cash flows from (used foe) financing activities December 31, 20ra For the Year Ended December 31, 20r3 Amount Descriptions Cash paid for dividends Cash paid for merchandse Cash paid for purchase of equpment Cash paid for purchase of land Cash received from customers Cash received trom sale of common stock. Cash received trem sale of investenents Cash balance, January 1, 20r3 Cash balance, December 35, 20Y3 Decresse in accounts payable Decrease in acceunts recetvable Decrease in accrued expenses payable Decrease in imventories Depreciation Gain en sale of imestments increase in accounts payablo Increase in accounts receivable Increase in accrued expenses payable Increase in cash increase in inventones Loss on sale of imvestments Net cash flows from operaing actrities Net cash flows used for operating activites Net cash flows from investing activitios Net cash flows used for investing activities Net cash flows from financing activites Net cash flows used for financing activities Net decrease in cash Net income Net increase in cash Net loss Statementoc Cash fiows instoctions Lvers inc. statement of Cash Flows 1 (Latel) Adpustinents to recuncle cet incoine to net cash flows bom (vsed for) operaing activities: 4 3. 4. Chanes in cunnt operating asets and labilitie: 7 4 , 10 (1) 13 (Label) i4 15 14 v. is. 19 (Label) 10 n 13 in i5