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		$253,630		$237,840
Accounts receivable (net)		91,880		85,420
Inventories		259,370		252,910
Investments		0		97,980
Land		133,030		0
Equipment		286,170		223,600
Accumulated depreciationequipment		(67,000)		(60,300)
	Total assets	$957,080		$837,450
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$173,230		$164,980
Accrued expenses payable (operating expenses)		17,230		21,770
Dividends payable		9,570		7,540
Common stock, $10 par		51,680		41,040
Paid-in capital: Excess of issue price over par-common stock		194,290		113,890
Retained earnings		511,080		488,230
	Total liabilities and stockholders equity	$957,080		$837,450

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

1. The investments were sold for $114,640 cash.
2. Equipment and land were acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
5. There was a $62,210 credit to Retained Earnings for net income.
6. There was a $39,360 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
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
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 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		$