Exercise 12-9 Here are comparative balance sheets for Pharoah Company Pharoah Company Comparative Balance Sheets Assets Cash Accounts receivable Inventory Land Equipment 2019 73,400 33,100 86,000 2018 71,500 170,300 186,900 72,600 100,000 260,500 199,300 (65,700 (33,700) depreciation- equipment $597,100 $557,100 Total Liabilities and Stockholders Accounts payable Bonds payable Common stock ($1 par) Retained earnings $35,300 46,500 150,600 204,000 175,500 195,000 131,100 S597,100 $557,100 216,200 Total Additional information 1. Net income for 2019 was $101,200 2. Cash dividends of $37,300 were declared and paid. 3. Bonds payable amounting to $53,400 were redeemed for cash $53,400. 4. Common stock was issued for $40,700 cash. S. No equipment was sold during 2019, but land was sold at cost. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000, or in parenthesis e.g. (15,000).) Pharoah Company Statement of Cash Flows Pharoah Company Statement of Cash Flows Adjustments to reconcile net income to Click if you would like to Show Work for this question: Open Show Work Exercise H-1 Cullumber Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 83 10%, $1,000 Martine Co. bonds for $83,000 cash. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Martine Co. bonds. uly 1 Sold 28 Martine Co. bonds for $34,110. ournalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit To record interest) (To record sale of bonds) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the adjusting entry for the accrual of interest at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec. 31 Click if you would like to Show Work for this question: Oen Show Work