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1 2 Dec. 31, 20Y2 Dec. 31, 20Y1 Assets 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Prepaid expenses 7 Land 8 Buildings 9 Accumulated depreciation-buildings $918,330.00 $965,220.00 828,620.00 761,010.00 1,268,630.00 1,162,990.00 30,290.00 35,390.00 315,080.00 478,880.00 1,462,320.00 899,910.00 (408,210.00) (382,220.00) 10 Equipment 511,480.00 454,920.00 11 Accumulated depreciation-equipment (140,580.00) (159,440.00) 12 Total assets $4,785,960.00 $4,216,660.00 13 Liabilities and Stockholders' Equity 14 Accounts payable (merchandise creditors) $923,090.00 $958,100.00 15 Bonds payable 16 Common stock, $25 par 17 Excess of paid-in capital over par 18 Retained earnings 269,000.00 0.00 325,500.00 118,000.00 766,500.00 559,000.00 2,501,870.00 2,581,560.00 19 Total liabilities and stockholders' equity $4,785,960.00 $4,216,660.00 ACCOUNT Land Date 20Y2 ACCOUNT NO. Balance Item Debit Credit Debit Credit Jan. 1 Balance 478,880 Apr. 20 Realized $150,210 cash from sale 163,800 315,080 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 899,910 Apr. 20 Acquired for cash 562,410 1,462,320 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 382,220 Dec. 31 Depreciation for year 25,990 408,210 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 26 Discarded, no salvage 454,920 47,120 407,800 Aug. 11 Purchased for cash 103,680 511,480 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 159,440 26 Equipment discarded 47,120 Dec. 31 Depreciation for year ACCOUNT Bonds Payable 112,320 28,260 140,580 ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 May 1 Issued 20-year bonds 269,000 269,000 ACCOUNT Common Stock $25 par Date 20Y2 ACCOUNT NO. Balance Item Debit Credit Debit Credit Jan. 1 Balance 118,000 Dec. 7 Issued 8,300 shares of common stock for $50 per share 207,500 325,500 ACCOUNT Paid-In Capital in Excess of Par-Common Stock Date 20Y2 Item ACCOUNT NO. Balance Debit Credit Debit Credit Jan. 1 Balance 559,000 Dec. 7 Issued 8,300 shares of common stock for $50 per share 207,500 766,500 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 2,581,560 Dec. 31 Net loss 47,830 2,533,730 31 Cash dividends 31,860 2,501,870 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required

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