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		$252,910		$236,070
Accounts receivable (net)		91,620		84,790
Inventories		258,630		251,040
Investments		0		97,260
Land		132,660		0
Equipment		285,350		221,940
Accumulated depreciationequipment		(66,810)		(59,850)
	Total assets	$954,360		$831,250
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$172,740		$163,760
Accrued expenses payable (operating expenses)		17,180		21,610
Dividends payable		9,540		7,480
Common stock, $10 par		51,540		40,730
Paid-in capital: Excess of issue price over par-common stock		193,740		113,050
Retained earnings		509,620		484,620
	Total liabilities and stockholders equity	$954,360		$831,250

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

1. The investments were sold for $113,790 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 $64,070 credit to Retained Earnings for net income.
6. There was a $39,070 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.