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		$291,340		$272,890
Accounts receivable (net)		105,540		98,010
Inventories		297,940		290,190
Investments		0		112,420
Land		152,820		0
Equipment		328,720		256,550
Accumulated depreciationequipment		(76,960)		(69,180)
	Total assets	$1,099,400		$960,880
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$198,990		$189,290
Accrued expenses payable (operating expenses)		19,790		24,980
Dividends payable		10,990		8,650
Common stock, $10 par		59,370		47,080
Paid-in capital: Excess of issue price over par-common stock		223,180		130,680
Retained earnings		587,080		560,200
	Total liabilities and stockholders equity	$1,099,400		$960,880

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

The investments were sold for $131,530 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 $72,040 credit to Retained Earnings for net income.

There was a $45,160 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.