Statement of Cash Flows-Indirect Method The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: Assets Dec. 31, 20Y2 Dec. 31, 20Y1 Cash $300,600 $337,800 Accounts receivable (net) Inventories Prepaid expenses Land Buildings Accumulated depreciation-buildings 704,400 609,600 918,600 865,800 18,600 26,400 990,000 1,386,000 1,980,000 990,000 (397,200) (366,000) Equipment Accumulated depreciation-equipment Total assets 660,600 529,800 (133,200) (162,000). $5,042,400 $4,217,400 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $594,000 $631,200 Income taxes payable 26,400 21,600 Bonds payable 330,000 0 Common stock, $20 par 320,000 180,000 Paid-in capital in excess of par-common stock 950,000 810,000