CHAPTER 16 Cash Flow Statement Prob. 3. The comparathe balance sheet of Hinson Enterprises. for December 31,2024 and 2023 is as foliows: The following additional information was taken from the records: .. Net income, $220,500 cash b. Depreciation reported on the income statement $72,975 c. Equipment was purchased at a cost of $142,450, and fully depreciated equipment Costing $39,200 was discarded with no salvage realited d. The mortgage not payable was not due until 2018 , but the terms permitted earlier payment without penaity. (e. 7,000 shares of common stock were issued at $35 for cash. f. Cash dividends declared and paid $134,400. Instructions- Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities