This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 13-36 of Chapter 13. Refer to the comparative balance sheet for Lawlor Lawn Service.

Requirement
1. Prepare the statement of cash flows using the indirect method. Assume no dividends were declared or paid during theyear.

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LAWLOR LAWN SERVICE, INC. Comparative Balance Sheet May 31, 2013 and 2012 2013 S 17,420 S 2,420 Assets 2012 Cash Accounts reccivable Lawn supplics 2,550 50 150 40 Equipment Accumulated depreciation Building Accumulated depreciation 1,440 1,440 (360) (30) 120,000 0. (2,500) $138,700 S 3,920 Total Assets Liabilitics Accounts payable Interest payable Current portion of mortgage payable Mortgage payable $ 1,440 440 555 12,000 99,000 $111,995 S 1,440 Total liabilities Stockholders' Equity Common stock 2,700 1,700 Retained carnings Total liabilities and stockholders' cquity 24,005 780 $138,700 S 3,920