< Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 2013 and 2012, is shown as follows: Assets Cash Accounts receivable (net) Inventories Investments Land. Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Dec. 31, 20Y3 Dec. 31, 2012 $238,440 $221,300 86,380 243,850 79,480 235,320 0 91,170 125,070 0 269,040 208,050 (62,990) (56,100) $899,790 $779,220 Accounts payable (merchandise creditors) $162,860 $153,510 Accrued expenses payable (operating expenses) 16,200 20,260 Dividends payable 9,000 7,010 Common stock, $10 par 48,590 38,180 Paid-in capital: Excess of issue price over par-common stock 182,660 105,970 Retained earnings 480,480 454,290 Total liabilities and stockholders' equity $899,790 $779,220 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $106,670 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $62,810 credit to Retained Earnings for net income. f. There was a $36,620 debit to Retained Earnings for cash dividends declared.