The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows:

1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets

3 Cash $626,640.00 $585,760.00

4 Accounts receivable (net) 226,900.00 208,390.00

5 Inventories 641,350.00 616,130.00

6 Investments 0.00 239,300.00

7 Land 328,730.00 0.00 8 Equipment 705,940.00 553,530.00

9 Accumulated depreciation-equipment (166,970.00) (148,000.00)

10 Total assets $2,362,590.00 $2,055,110.00

11 Liabilities and Stockholders Equity

12 Accounts payable $425,140.00 $404,540.00

13 Accrued expenses payable 42,020.00 52,750.00

14 Dividends payable 23,580.00 19,500.00

15 Common stock, $4 par 154,000.00 100,000.00

16 Excess of paid-in capital over par 416,600.00 279,400.00

17 Retained earnings 1,301,250.00 1,198,920.00 18

Total liabilities and stockholders equity $2,362,590.00 $2,055,110.00

Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $279,880 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 $198,010 credit to Retained Earnings for net income. f. There was a $95,680 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.

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

a.	The investments were sold for $279,880 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 $198,010 credit to Retained Earnings for net income.
f.	There was a $95,680 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.