to the statement of cash flows, the following data survived the computer mishap: vestments were sold for $280,000 cash. nent was acquired for $152,000 cash. vas acquired for $326,000 cash. were no disposals of equipment during the year. 0 shares of common stock were sold for cash during the year. was a $96,000 debit to Retained Earnings for cash dividends declared. nt of Cash Flows ervisor has provided you with the following statement of cash flows, prepared using the indirect meth and cash flows from financing activities. Review the statement, and then proceed to the next panel. Championship Boxing, Inc. Statement of Cash Flows For the Year Ended December 31, 2018 ows from (used for) operating activities: ncome $186,540 stments to reconcile net income to net cash flow from operating activities: preciation 18,400 in on sale of investments (50,000) ges in current operating assets and liabilities: ease in accounts receivable (25,390) Fease in inventories (33,550) rease in accounts payable 41,130 crease in accrued expenses payable (12,470) $124,660 Net cash flow from operating activities h flows from (used for) investing activities: ash received from sale of investments $280,000 ash paid for purchase of land (326,000) ash paid for purchase of equipment (152,000 Net cash flow used for investing activities (198,000) sh flows from (used for) financing activities: och received from cale of common stock 1975 eck My Work ash flow used for investing activities (198,000) ws from (used for) financing activities: ceived from sale of common stock $ 187,500 aid for dividends (91,200) 96,300 cash flow from financing activities ease in cash $22,960 lance, January 1, 2018 585,920 lance, December 31, 2048 $608,880 e Sheet he information on above, complete the following comparative balance sheet. Championship Boxing, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 20Y7 Assets 608,880 $585,920 unts receivable (net) 230,970 205,580 tories 618,320 stments 0 230,000 326,000 0 pment 705,200 152,000 X umulated depreciation equipment (166,400) 148,000 al assets S $ Liabilities counts payable (merchandise creditors) $ 432.930 $391,800 dk My Work December 31, 2048 and 2017 2018 2017 Assets 608,880 $585,920 ceivable (net) 230,970 205,580 618,320 0 230,000 326,000 0 705,200 152,000 x ed depreciation equipment (166,400) 148,000 ES Liabilities payable (merchandise creditors) 432,930 $391,800 expenses payable (operating expenses) 41,160 53,630 s payable 24,000 19,200 bilities $498,090 464,630 Stockholders' Equity n stock, $4 par $ 150,000 $100,000 capital in excess of par 417,500 280,000 ed earnings tockholders' equity $1,858,430 Habilities and stockholders' equity $ $ edback My Work et