y & Practice > Chapter 12. Statement of Cash Flows | Select a Section E12-9. Prepare a statement of cash flows-indirect method (LO 2) Here are comparative balance sheets for Velo Company VELO COMPANY Comparative Balance Sheets December 31 Assets Cash 2019 2018 Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment (66,000) (32,000) s 63,000 S22,000 76,000 189,000 100,000 270,000 200,000 85,000 170,000 75,000 Total $597,000 $555.000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock (S1 par) Retained earnings s 39,000 47.000 150,000 216,000 192,000 S597,000 200,000 174,000 134,000 $555.000 Total Additional information: 1. Net income for 2019 was $93.000. 2. Cash dividends of $35.000 were declared and paid