Your answer is partially correct. Try again. Condensed financial data of Sunland Company follow. Sunland Company Comparative Balance Sheets December 31 Assets 2019 2018 Cash $104,700 $47,800 Accounts receivable 91,000 34,000 Inventory 112,600 101,700 Prepaid expenses 29,300 25,800 Investments 140,600 113,000 Equipment 264,300 242,200 Accumulated depreciation-equipment (47,800) (52,900) Total $694,700 $511,600 Liabilities and Stockholders' Equity Accounts payable $111,800 $67,400 Accrued expenses payable 16,000 17,100 Bonds payable 115,600 149,500 Common stock 220,700 175,900 Retained earnings 230,600 101,700 Total $694,700 $511,600Sunland Company Income Statement For the Year Ended December 31, 2019 Sales revenue $391,400 Less: Cost of goods sold $134,600 Operating expenses, excluding depreciation 12,300 Depreciation expense 33,200 Income tax expense 26,800 Interest expense 4,400 Loss on disposal of plant assets 7,500 218,800 Net income $172;600 Additional information: New equipment costing $80,900 was purchased for cash during the yea r. Old equipment having an original cost of $58,800 was sold for $13,000 cash. Bonds matured and were paid off at face value for cash. A cash dividend of $43,700 was declared and paid during the yea r. PENN? Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash ow with eithera - sigh e.g. -15,000 or in parenthesis e.g. (15,000).) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sunland Company Statement of Cash Flows x December 31, 2019 Cash Flows from Operating Activities Net Income 172600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 33200 Loss on Disposal of Plant Assets 7500 x Increase in Accounts Receivable 57000 x Increase in Inventory 10900 x Increase in Prepaid Expenses 3500 Increase in Accounts Payable 44400 x Decrease in Accrued Expenses Payable 110012600 X Cash Flows from Operating Activities 185200 Cash Flows from Investing Activities v Sale of Plant Assets 13000 x Purchase of Investments 27600 X Purchase of Plant Assets 80900 X Net Cash Provided by Investing Activities 95500 V Cash Flows from Financing Activities x Payment of Cash Dividends 43700 x Redemption of Bonds 33900 v Issuance of Common Stock 44800