The comparative balance sheet for Long Company as of December 31, 2019 and 2018, is shown below, followed by the condensed income statement LONG COMPANY Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Cash $108,875 $ 51,900 Accounts Receivable (Net) 85,700 67,100 Merchandise Inventory 82,200 73,700 Prepaid Rent 5,200 4,350 Land 74,500 23,500 Property, Plant, and Equipment 187,500 216,000 Less: Accumulated Depreciation-PPE (21,800) (21,600) Investment in TVA Bonds 30,000 47,000 Total Assets $552,175 $461,95e Liabilities and Stockholders' Equity Liabilities Accounts Payable 66,000 86,150 Income Taxes Payable 9,400 9,800 Bonds Payable 134,000 97,000 Total Liabilities $209,400 $192,950 Stockholders' Equity Common Stock 92,500 72,000 Retained Earnings 250,275 197,000 Total Stockholders' Equity $342,775 $269,000 Total Liabilities and Stockholders' Equity $552,175 $461,950 $886,000 LONG COMPANY Condensed Income Statement Year Ended December 31, 2019 Revenues Costs and Expenses Cost of Goods Sold Depreciation Expense Selling and Administrative Expenses Interest Expense Loss on Sale of Equipment Income Taxes Expense Total Costs and Expenses Net Income After Income Taxes 475,000 8,700 196,900 18,280 16,500 23,925 $739,225 $ 66,775 Additional information for the year follows. a. Acquired land at a cost of $51,000; paid one half of the purchase price in cash and issued common stock for the balance. b. Sold used equipment for $17,000 in cash. The original cost was $42,000, depreciation of $8,500 had been taken. The remaining change in the Property, Plant, and Equipment account represents a purchase of equipment for cash. Total depreciation expense for the year was $8,700. c. Issued bonds payable at par value for cash. d. Sold bond investments costing $17,000 at no gain or loss during the year. e. Paid $18,500 cash dividends on the common stock. Required: Prepare a statement of cash flows for 2019. Analyze: By what percentage did Cash increase from January 1 to December 31? Prepare a statement of cash flows for 2019. (Amounts to be deducted should be indicated with a minus sign.) LONG COMPANY Statement of Cash Flows Year Ended December 31, 2019 Cash flows from operating activities Adjustments: Total adjustments Cash flows from investing activities Cash flows from financing activities Complete this question by entering your answer in the tabs below. Stmt of Cash Flows Analyze By what percentage did Cash increase from January 1 to December 31? (Round your percentage answer to 1 decimal place. i.e., 0.123 should be entered as 12.3.) Percentage of Increase in Cash %