Accounts receivable Inventory Furniture and equipment: Cost Accumulated depreciation Leasehold improvements: Cost Accumulated amortization Tax Basis $ 32,700 154,200 53,000 (42,400) 26,500 (5,300)

is:       Dec. 31, 20Y9        Dec. 31, 20Y8 Assets           Cash $70,720     $47,940   Accounts receivable (net) 207,230     188,190   Inventories 298,520     289,850   Investments 0     102,000   Land 295,800     0   Equipment 438,600     358,020   Accumulated depreciation—equipment (99,110)     (84,320)   Total assets $1,211,760     $901,680   Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700     $194,140   Accrued expenses payable (operating expenses) 30,600     26,860   Dividends payable 25,500     20,400   Common stock, $1 par 202,000     102,000   Paid-in capital: Excess of issue price over par—common stock 354,000     204,000   Retained earnings 393,960     354,280   Total liabilities and stockholders' equity $1,211,760     $901,680   The income statement for the year ended December 31, 20Y9, is as follows: Sales   $2,023,898 Cost of goods sold   1,245,476 Gross profit   $778,422 Operating…

Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $ 2,134,000 1,045,660 1,088,340 $ 292,358 51,216 57,618 6,402 23,474 431,068 657,272 8,536 $ 665,808 Accounts receivable Inventory $ 47,650 increase Accounts payable 34,400 increase Salaries payable $ 8,025 decrease 2,550 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities es Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities + ก

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