Problem 12-10A Your answer is partially correct. Try again. Condensed financial data of Blossom Company follow. Blossom Company Comparative Balance Sheets December 31 Assets 2019 2018 Cash $99,000 $47,900 Accounts receivable 92,200 32,700 Inventory 112,900 101,900 Prepaid expenses 30,000 25,300 Investments 139,000 113,800 Equipment 270,500 241,100 Accumulated depreciation-equipment (46,200) (52,000) Total $697,400 $510,700 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,300 $67,000 16,500 17,000 112,100 149,000 220,300 175,400 237,200 102,300 $697,400 $510,700 $392,700 Blossom Company Income Statement For the Year Ended December 31, 2019 Sales revenue Less: Cost of goods sold $134,500 Operating expenses, excluding depreciation 11,000 Depreciation expense Income tax expense 27,100 Interest expense 4,700 Loss on disposal of plant assets 6,700 37,700 221,700 $171,000 Net income Additional information: 1. New equipment costing $80,900 was purchased for cash during the year. 2. Old equipment having an original cost of $51,500 was sold for $1,300 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $36,100 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Blossom Company using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blossom Company Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operating Activities $ X cash payments: OD DD ill