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  3. the accounts below appear in the ledger of anita b

The accounts below appear in the ledger of Anita Baker Company. ...

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Accounting

The accounts below appear in the ledger of Anita Baker Company.

Retained Earnings

Dr.

Cr.

Bal.
Jan. 1, 2017 Credit Balance $42,000
Aug. 15 Dividends (cash) $15,000 27,000
Dec. 31 Net Income for 2017 $40,000 67,000

Equipment

Dr.

Cr.

Bal.
Jan. 1, 2017 Debit Balance $140,000
Aug. 3 Purchase of Equipment $62,000 202,000
Sept. 10 Cost of Equipment Constructed 48,000 250,000
Nov. 15 Equipment Sold $56,000 194,000

Accumulated DepreciationEquipment

Dr.

Cr.

Bal.
Jan. 1, 2017 Credit Balance $84,000
Apr. 8 Major Repairs $21,000 63,000
Nov. 15 Accum. Depreciation on Equipment Sold 25,200 37,800
Dec. 31 Depreciation for 2017 $16,800 54,600

From the postings 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 $5,800. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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