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Requirement Prepare the statement of cash flows for the year ended December 31, 2019, using the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Happy Camper Company Statement of Cash Flows Year Ended December 31, 2019 Cash Flows From Operating Activities: 408,000 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data Table Happy Camper Company Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets S 1217070 Cash 15.370 32.000 Short-term Investments, net 6.400 Accounts Receivable, net 1500 1,000 Merchandise Inventory 0 Office Supplies 30 s00 Prepaid Rent 1400 Property, Plant, and Equipment Land 255,000 105.000 672.000 Building 252.000 Canoes 13,440 13,440 Office Funiture and Equipment 70,000 (34,700) (1,400) Accumulated Depreciation-PPAE $ 2,227,340 s 393,110 Total Assets Liabilities Current Liabilties: 6,580 Accounts Payable 4.660 240 Usites Payable 440 Telephone Payable 740 340 3.550 Wages Payable 750 Notes Payable 24,000 Inberest Payable 420 120 1,300 Uneamed Revenue 850 Long-Term Liabilities Notes Payable 7680 7,680 Mortgage Payable 285.000 Bonds Payable 800,000 0 (840) Discount on Bonds Payable 1,128,870 Total Liabilities 14.640 Stockholders' Equity Paid-in Capital Preferred Stock 120,000 Paid-In Capital in Excess of Par-Prefered 30,000 Common Stock 576.000 376.000 Paid-In Capital in Excess of Par-Common 100,000 272.470 2.470 Retained Eamings 1,098.470 378.470 Total Stockholders' Equity 2,227,340 393,110 Total Liabilities and Stockholders Equity Done Print X More Info 1. The income statement for 2019 included the following items: a. Net income, $408,000 b. Depreciation expense for the year, $33,300 c. Amortization on the bonds payable, $280. 2. There were no disposals of property, plant and equipment during the year. All acquisitions of PP&E were for cash except the land, which was acquired by issuing preferred stock. 3. The company issued bonds payable with a face value of $800,000, receiving cash of $798,880 4. The company distributed 7,000 shares of common stock in a stock dividend when the market value was $18.00 per share. All other dividends were paid in cash 5. The common stock, except for the stock dividend, was issued for cash 6. The cash receipt from the notes payable in 2019 is considered a financing activity because it does not relate to operations. Print Done

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