Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 2013 and 2042, is shown as follows: Dec. 31, 2013 Dec. 31, 2012 Assets Cash S230,960 $247,710 89,740 82,950 253,320 0 245,590 95,150 Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation equipment 0 129,930 279,490 217.140 (65,430) (58,550) Total assets $934,760 813,240 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (aperating expenses) Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par common stock Retained earnings $169,190 16,830 9,350 S160,210 21,140 7,320 50,480 39,850 189,760 499,150 110,600 474,120 S813,240 Total liabilities and stockholders' equity $934,760 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $111,330 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 $63,250 credit to Retained Earnings for net income. f. There was a $38,220 debit to Retained Eamings 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 934,760 X Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable o Net cash flow from operating activities Cash flows from investing activities: Cash received from sale of investments Cash paid for purchase of land II bIII QUI DI 0000 Cash paid for purchase of equipment O Net cash flow used for investing activities Cash flows from financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flow from financing activities Change in cash Cash at the beginning of the year Cash at the end of the year