Following are the items on Srinivasan Company's 2004 statement of cash flows presented in alphabetical order. Parentheses indicate that a listed amount should be subtracted on the cash flow statement.

The beginning balance in cash was S40.000 and the ending balance was S27.000.

Required:
Prepare the 2004 statement of cash flows for Srinivasan Company using the indirect method presented in the chapter.

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Borrowing on long-term note Increase in accounts payable $20.000 6.000 Increase in accounts receivable (5.000) Increase in inventories (10.000) Net income 55.000 Paid cash dividend (15.000) Paid long-term note (12.000) Purchased equipment (80,000) Purchased land (8.000) Sale of capital stock (3.000 shares X $12) 36.000