Statement of Cash FlowsIndirect Method

The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows:

		Dec. 31, 20Y3		Dec. 31, 20Y2
Assets
Cash		$256,050		$240,660
Accounts receivable (net)		92,760		86,430
Inventories		261,850		255,910
Investments		0		99,140
Land		134,310		0
Equipment		288,900		226,250
Accumulated depreciationequipment		(67,640)		(61,010)
	Total assets	$966,230		$847,380
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$174,890		$166,930
Accrued expenses payable (operating expenses)		17,390		22,030
Dividends payable		9,660		7,630
Common stock, $10 par		52,180		41,520
Paid-in capital: Excess of issue price over par-common stock		196,140		115,240
Retained earnings		515,970		494,030
	Total liabilities and stockholders equity	$966,230		$847,380

Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

The investments were sold for $115,990 cash.

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $61,770 credit to Retained Earnings for net income.

There was a $39,830 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Livers Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
Cash flows from operating activities:
Net income	$
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Loss on sale of investments
Changes in current operating assets and liabilities:
Decrease in accounts receivable
Decrease in inventories
Increase in accounts payable
Decrease in accrued expenses payable
Net cash flow from operating activities		$
Cash flows from investing activities:
Cash received from sale of investments	$
Cash paid for purchase of land
Cash paid for purchase of equipment
Net cash flow used for investing activities
Cash flows from financing activities:
Cash received from net income	$
Cash paid for dividends
Net cash flow from financing activities
Cash received from sale of common stock		$
Cash at the beginning of the year
Cash at the end of the year		$