Tlow/connect .html Chapter 12 in class assignment Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized 10 points talance Sheet Cash Accounts receivable Herchandise inventory Property and equipment Lesss Accumulated depreclation $122,700 115,566 107,250 99,000 132,000 ,000 188,008 Total assets Liabilitiess 416,45e $ 19,880 99,8e8 132,880 416.45e Accounts payable salaries and Wages Payable Notes payable, long-term s 16,500 82,500 152,009 $458,780 1440,000 26,320 78,680 0Stockholders Equity Common stock Total liabilities and stockholders equity Sales Cost of goods sold Depreclation expense Other information from the company's records includes the following Bought equipment for cash, $89,000. Paid $16,500 on long-term note payable . Issued new shares of common stock for $20,000 cash . Cash dividends of $28,200 were declared and paid to stockholders. . Accounts Payable arose from inventory purchases on creda . Income tax expense ($19,670) and interest expense ($4,950] were paid in full at the end of both years and are included in Other Expenses Required: a Prepare the statement of cash fows using the Indirect method, Include any supplemental disclosures. (Enter any deductions and cash outfliows as a negative value.) Required: o. Prepare the statement of cash flows using the indirect method. Include any supplemental disclosures. (Enter any deductions and cash outflows as o negative velue.) 10 S Inc Statement of Cash Flows For the Year Ended Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activibes Print Changes in current assets and current Eabilies References Cash Flows from Investing Activities Cash Flows from Financing Actvities Cash and Cash Equlvalents, beginning of period Cash and Cash Equivalents, end of perlod Supplemental Disclosures Type here to search