There is a loss on a sale, account for that

0 0 (45,100) 7700 roblems Series B OBLEM 16-18 The comparative balance sheet of True Trend Mouring Co. for June 30, 2006 and ment of cash flows- trect method 2005, is as follows: ejective z June 30, 2006 June 30, 2005 Assets 2 Cash 5 68.900 $ 53,700 Accounts receivable (net) 89,200 85,400 Inventories 145,800 132,700 Investments 45,000 cash flow from Land 105,500 perating activities, S Equipment 210,800 185,600 Accumulated depreciation (52.800) 5567,400 $457,300 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $104,300 $100,200 Accrued expenses (operating expenses) 15.200 14.300 Dividends payable 12,000 10,000 Common stock, 511 par 55,000 50,000 Paid-in capital in excess of par-common stock 200,000 100,000 Retained earnings 180,900 182,800 5567,400 $457,300 The following additional information was taken from the records of True Tread Hooring Co: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year c. The investments were sold for $41,000 cash d. The common stock was issued for cash. e. There was a $46,100 credit to Retained Famings for net income. 1. There was a $48,000 debit to Retained Eamings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities