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*Exercise 23B-18 Your answer is partially correct. Try again. The accounts below appear in the ledger of Larkspur Company. Retained Earnings Dr. Cr. Bal. Jan. 1, 2017 Credit Balance Aug. 15 Dec. 31 $42,100 Dividends (cash) Net Income for 2017 $15,100 27,000 67,300 $40,300 Bal. $139,300 201,600 250,100 Equipment Dr. Cr. Jan. 1, 2017 Debit Balance Aug. 3 Sept. 10 Nov. 15 Purchase of Equipment Cost of Equipment Constructed Equipment Sold $62,300 48,500 $55,500 194,600 Accumulated Depreciation Dr. Cr. Bal. Equipment Jan. 1, 2017 Apr. 8 Nov. 15 Dec. 31 Credit Balance Major Repairs Accum. Depreciation on Equipment Sold Depreciation for 2017 $84,800 $21,100 25,300 63,700 38,400 $16,600 55,000 From the pastings in the accounts above, indicate how the information is reported on a statement of cash flows by preparing a partial statement of cash flows using the indirect method. The loss on sale of equipment (November 15) was $5,900. amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) LARKSPUR COMPANY Statement of Cash Flows (Partial) the Year Ended December 31, 2017 Net Cash Used by Operati djustments to reconcile net income to Sale of Equipment 5900 250 Cash Flows from Operatin 280 ash Flows from Investing Activit Sale of Equipment 24100 rchase of Equipmen of nt Constructe 86700 sh Flows from Financing Activiti ment of Cash Dividen 15100 Cash Flows from Financin XXx SXXX

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