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Use the Northstar Corp. financial statements and supplementary information given below to prepare a statement of cash flow for the year ended December 31, 2019,
Use the Northstar Corp. financial statements and supplementary information given below to prepare a statement of cash flow for the year ended December 31, 2019, using the indirect method. Additional Information: a. Purchased equipment for $25,000 cash. b. Sold the long-term investment on January 1,2019 for $18,000. c. Sold equipment for $18,000 cash that had originally cost $75,500 and had $49,000 of accumulated depreciation. d. Issued $43,000 of bonds payable at face value. \begin{tabular}{|c|c|c|} \hline \multirow[b]{4}{*}{ Cash } & nformation & \\ \hline & \multicolumn{2}{|c|}{ December 31} \\ \hline & 2019 & 2018 \\ \hline & 353,000 & 175,000 \\ \hline Accounts receivable. & 63,400 & 100,000 \\ \hline Merchandise inventory. & 43,400 & 150,000 \\ \hline Long-term investment in stock. & 0 & 37,000 \\ \hline Equipment & 199,500 & 250,000 \\ \hline Accumulated depreciation, equipment. & (120,000) & (135,000) \\ \hline Total assets. & 539,300 & 577,000 \\ \hline Liabilities and Stockholders' Equity & & \\ \hline Accounts payable & 94,800 & 63,000 \\ \hline Cash dividends payable. & 1,000 & 27,000 \\ \hline Bonds payable.. & 43,000 & 0 \\ \hline Common stock. & 383,000 & 383,000 \\ \hline Retained earnings. & 17,500 & 104,000 \\ \hline Total liabilities and stockholders' equity. & 539,300 & 577,000 \\ \hline \end{tabular} (select one) Statement of Cash Flows (selectione) Cash flows from operating activities Adjust. to reconcile net income to net cash flow from oper. act: Cash flows from investing activities Cash flows from financing activities Total cash flow increase/(decrease) Cash at beginning of year Cash at end of year
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