Prepare a cash flow statement using the indirect method

Dec 31, 2046 Dec 31, 2015 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment.. Accumulated depreciation. Total assets Liabilities and Stockholders'Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable... Common stock, $2 par. Paid-in capital: Excess of issue price over par common stock Retained earnings Total liabilities and stockholders' equity $ 643,400 566,800 1,011,000 0 520.000 880,000 (244400) $3,376,800 $ 679,400 547,400 982,800 240,000 0 680,000 (200,400) $2.929,200 $ 721,800 63.400 8,800 56.000 408,000 2,068,800 $3,376,800 $ 248,400 70,800 6400 32/000 192,000 1,879,600 $2.929,200 The income statement for the year ended December 31, 20Y6, is as follows: $5,980,000 2.452,000 $3,528,000 $ 44,000 3,100,000 Sales Cost of goods sold Gross profit. Operating expenses: Depreciation expense Other operating expenses Total operating expenses Operating income.. Other expense: Loss on sale of investments Income before income tax Income tax expense Net Income 3.144,000 $ 384,000 (64.000) $ 320,000 102,800 Si 217.200 Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows A. Equipment and land were acquired for cash. B. There were no disposals of equipment during the year. C. The investments were sold for $176,000 cash. D. The common stock was issued for cash. E. There was a $28.000 debit to Retained Earnings for cash dividends declared