Answer Happy

The comparative balance sheet of Livers Inc. for December 31,
20Y3 and 20Y2, is shown as follows:
1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$155,000.00
$150,000.00
4
Accounts receivable (net)
450,000.00
400,000.00
5
Inventories
770,000.00
750,000.00
6
Investments
0.00
100,000.00
7
Land
500,000.00
0.00
8
Equipment
1,400,000.00
1,200,000.00
9
Accumulated depreciation-equipment
(600,000.00)
(500,000.00)
10
Total assets
$2,675,000.00
$2,100,000.00
11
Liabilities and Stockholders’ Equity
12
Accounts payable (merchandise creditors)
$340,000.00
$300,000.00
13
Accrued expenses payable (operating expenses)
45,000.00
50,000.00
14
Dividends payable
30,000.00
25,000.00
15
Common stock, $4 par
700,000.00
600,000.00
16
Paid-in capital in excess of par—common stock
200,000.00
175,000.00
17
Retained earnings
1,360,000.00
950,000.00
18
Total liabilities and stockholders’ equity
$2,675,000.00
$2,100,000.00
Additional data obtained from an examination of the accounts in
the ledger for 20Y3 are as follows:
Prepare a statement of cash flows, using the indirect method of
presenting cash flows from operating activities. Refer to the
Labels and Amount Descriptions list provided for the exact wording
of the answer choices for text entries. Be sure to complete the
heading of the statement. Enter amounts that represent cash
outflows as negative numbers using a minus sign.
Labels and Amount Descriptions
X
Statement of Cash Flows