MANAGERIAL ACCOUNTING HANDouT PROBLEM 14 Score Name Section Problem (10 points). New Jersey Corporation's comparative balance sheets as of June 10, 20x7 and 20x6 and its 20x7 income statement are attached. The following additional information is available for the company for 20x7. Equipment that cost $24,000 with accumulated depreciation of S17,000 was sold at a loss of $4,000. Land and building were purchased in the amount of S100,000 by issuing a mortgage payable in the same amount. (C) A payment of $20,000 was made on the mortgage payable. (d) Cash dividends in the amount of $60,000 were paid during the year. REQUIRED: Prepare a statement of cash flows, using the indirect method, for New Jersey Corporation for the year ending June 30, 20x7