Statements of Cash Flows

The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec 31, 2093 Dec 31, 20Y2 2 Assets 3 Cash $155,000.00 $150,000.00 400,000.00 4 Accounts receivable (net) 450,000.00 770,000.00 5 inventories 750,000.00 6 Investments 0.00 100,000.00 Land 500,000.00 0.00 8 Equipment 1,400,000.00 1,200,000.00 9 Accumulated depreciation equipment (600,000.00) 6500,000.00) $2,100,000.00 10 Total assets $2,675,000.00 11 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) $340,000.00 $300,000.00 13 Accrued expenses payable (operating expenses) 45,000.00 50,000.00 14 Dividends payable 50,000.00 25,000.00 15 Common stock, $4 par 700,000.00 600,000.00 16 Paid-in capital in excess of par-common stock 200,000.00 175,000.00 1 Retained earnings 1,360,000.00 950,000.00 10 Total liabilities and stockholders' equity $2,675,000.00 $2,100,000.00 Additional data obtained from an examination of the accounts in the ledger for 2013 are as follows: a. The investments were sold for $175,000 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 $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Enter amounts that represent cash outflows as negative numbers using a minus sign. Labels and Amount Descriptions Cash paid for dividends Cash paid for merchandise Cash paid for purchase of equipment Cash paid for purchase of land Oash received from customers Cash received from sale of common stock Cash received from sale of investments December 31, 20Y3 Decrease in accounts payable Decrease in accounts receivable Decrease in accrued expenses payable Decrease in inventories Depreciation For the Year Ended December 31, 2043 Gain on sale of investments Increase in accounts payable Increase in accounts receivable Increase in accrued expenses payable Increase in cash Increase in inventories Loss on sale of investments Net cash flow from operating activities Net cash flow used for operating activities Net cash flow from investing activities Net cash flow used for investing activities Net cash flow from financing activities Net cash flow used for financing activities Net decrease in cash Net income Net increase in cash Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Enter amounts that represent cash outflows as negative numbers using a minus sign. Livers Inc Statement of Cash Flows (Label) 1 Cash flows from (used for) operating activities: 2 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 5 6 Changes in current operating assets and liabilities: 7 Livers Inc Statement of Cash Flowe (Label) 1 Cash flows from used for) operating activities 2 3 Adjustments to reconcile net income to net cash flow from operating activities 4 5 6 Changes in current operating assets and liabilities: 7 8 9 10 11 12 13 Cash flows from (used for) Investing activities: 15 16 19 19 Cash flows from (used for) financing activities 20 21 22 23 24 Cash balance, January 1, 2013 25 Cash balance, December 31, 2013