(8) DI R * Assign X 9 Questi X Questi X 4 Busine X Registr X Banner X Northe X PT Natash X + 第| x heducation.com/ext/map/index.html?_con3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddle... ☆ rt 1 i Saved Help Save & Exit Submit The management team of Wickersham Brothers Incorporated is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized. Current Year Prior Year Balance Sheet Assets Cash $ 91,500 $ 111,000 Accounts Receivable Inventory Property and Equipment Less: Accumulated Depreciation 97,500 00006 000'06 (48,800) $ 422,700 Total assets $ 378,500 Liabilities: $ 15,000 $ 18,000 Accounts Payable Salaries and Wages Payable Notes Payable, Long-Term Stockholders' Equity: 000'e 000 sL 00s T 000 '06 Common Stock 120,000 Retained Earnings 189,700 000 6tT Total Liabilities and Stockholders' $ 422,700 $ 378,500 equity Income Statement Sales $ 400,000 210,000 23,800 Cost of Goods Sold Depreciation Expense Other Expenses $ 66,200 Net Income < Prev 3 of 4 Next .......... E ...... 46°F 12 arch 3. 1120 PrtScr Insert F10 F11 F8 F5 & 8. * 00 R A Assign X 9 Questi X Busine X Registr X Banne X Northe X PT Natash X heducation.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddle... E rt 1 G Saved Help Save & Exit Submit Net Income 007 99 $ Other information from the company's records includes the following: Bought equipment for cash, $80,000. • Paid $15,000 on long-term note payable. • Issued new shares of common stock for $20,000 cash. • Cash dividends of $25,500 were declared and paid to stockholders. • Accounts Payable arose from inventory purchases on credit. • Income tax expense ($16,550) and interest expense ($4,500) were paid in full at the end of both years and are included in Other Expenses. Required: a. Prepare the statement of cash flows using the indirect method. Include any supplemental disclosures. (Enter any deductions and cash outflows as a negative value.) WICKERSHAM BROTHERS INCORPORATED Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net income くat wpu"てく < Prev 3 of 4 Next > 6:58 PM search (« O 12/13/2021 X 46°F 3. CO V PrtScr Insert Home End FS F8 F11 F12 Bac