=+Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.

Liabilities and Stockholders’ Equity Accounts payable (merchandise creditors) . . . . . . . . $ 360,000 $ 322,200 Accrued expenses payable (operating expenses) . . . 22,600 26,400 Dividends payable . . . . . . . . . . . . . . . . . . . . . . . . . 33,600 30,400 Common stock, . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000 8,000 Paid-in capital in excess of par—common stock . . . . 320,000 160,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . 831,620 789,300 _________ __________

$1,583,820 $1,336,300 _________ _________ __________ __________ 758 Chapter 16 Statement of Cash Flows