The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as follows: 1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $186,000.00 $180,000.00 4 Accounts receivable (net) 540,000.00 480,000.00 5 Inventories 924,000.00 900,000.00 6 Investments 0.00 120,000.00 7 Land 600,000.00 0.00 8 Equipment 1,680,000.00 1,440,000.00 9 Accumulated depreciation-equipment (720,000.00) (600,000.00) 10 Total assets $3,210,000.00 $2,520,000.00 11 Liabilities and Stockholders Equity 12 Accounts payable $408,000.00 $360,000.00 13 Accrued expenses payable 54,000.00 60,000.00 14 Dividends payable 36,000.00 30,000.00 15 Common stock, $4 par 840,000.00 720,000.00 16 Excess of paid-in capital over par 240,000.00 210,000.00 17 Retained earnings 1,632,000.00 1,140,000.00 18 Total liabilities and stockholders equity $3,210,000.00 $2,520,000.00 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required. Statement of Cash Flows Shaded cells have feedback. 1. Cash flows from (used for) operating activities: 2 Net income 3 Adjustments to reconcile net income to net cash flows from operating activitie: 12 Cash flows from (used for) irnesting activities:.

1. The comparative balance sheet of Iglesias Inc. for December 31, 20Y3 and 20Y2, is shown as
follows:
1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$186,000.00
$180,000.00
4
Accounts receivable (net)
540,000.00
480,000.00
5
Inventories
924,000.00
900,000.00
6
Investments
0.00
120,000.00
7
Land
600,000.00
0.00
8
Equipment
1,680,000.00
1,440,000.00
9
Accumulated depreciation-equipment
(720,000.00)
(600,000.00)
10
Total assets
$3,210,000.00
$2,520,000.00
11
Liabilities and Stockholders Equity
12

2. Accounts payable
$408,000.00
$360,000.00
13
Accrued expenses payable
54,000.00
60,000.00
14
Dividends payable
36,000.00
30,000.00
15
Common stock, $4 par
840,000.00
720,000.00
16
Excess of paid-in capital over par
240,000.00
210,000.00
17
Retained earnings
1,632,000.00
1,140,000.00
18
Total liabilities and stockholders equity
$3,210,000.00
$2,520,000.00
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as
follows:
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used
for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and
Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use
the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each
section, if required.
Statement of Cash Flows Shaded cells have feedback. 1. Cash flows from (used for) operating
activities: 2 Net income 3 Adjustments to reconcile net income to net cash flows from operating
activitie: 12 Cash flows from (used for) irnesting activities: