PR 13-1A Statement of cash flows-indirect method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Obj. 2, 3, 4, 5 Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash Accounts receivable (net) Inventories .. Investments Land 150,000 400,000 750,000 100,000 0 1,200,000 (500,000) $2,100,000 . . .. 155,000 450,000 770,000 500,000 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) .340,000 . . .45,000 30,000 300,000 50,000 25,000 600,000 175,000 950,000 $2,675,000$2,100000 Paid-in capital: Excess of issue price over par-common stock...... 200,000 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: A. The investments were sold for $175,000 cash B. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash. E. There was a $500,000 credit to Retained Earnings for net income F. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities