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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 parcommon 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:

	a. The investments were sold for $175,000 cash.
	b. Equipment and land were acquired for cash.
	c. There were no disposals of equipment during the year.
	d. The common stock was issued for cash.
	e. There was a $500,000 credit to Retained Earnings for net income.
	f. There was a $90,000 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities.

Labels
Cash flows from (used for) operating activities
Cash flows from (used for) investing activities
Cash flows from (used for) financing activities
December 31, 20Y3
For the Year Ended December 31, 20Y3
Amount Descriptions
Cash paid for dividends
Cash paid for merchandise
Cash paid for purchase of equipment
Cash paid for purchase of land
Cash received from customers
Cash received from sale of common stock
Cash received from sale of investments
Cash balance, January 1, 20Y3
Cash balance, December 31, 20Y3
Decrease in accounts payable
Decrease in accounts receivable
Decrease in accrued expenses payable
Decrease in inventories
Depreciation
Gain on sale of investments
Increase in accounts payable
Increase in accounts receivable
Increase in accrued expenses payable
Increase in cash
Increase in inventories
Loss on sale of investments
Net cash flows from operating activities
Net cash flows used for operating activities
Net cash flows from investing activities
Net cash flows used for investing activities
Net cash flows from financing activities
Net cash flows used for financing activities
Net decrease in cash
Net income
Net increase in cash
Net loss

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities.

Statement of Cash Flows Instructions

Livers Inc.

Statement of Cash Flows

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3	Adjustments to reconcile net income to net cash flows from (used for) operating activities:
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6	Changes in current operating assets and liabilities:
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