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Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, 2014 Dec. 31, 20Y3 Assets Cash $443,240 $360,920 Accounts receivable (net) 665,280 592,200 Inventories 887,880 1,022,560 25,200 31,640 Prepaid expenses Land 302,400 302,400 1,713,600 1,134,000 Buildings Accumulated depreciation-buildings (466,200) 781,200 Machinery and equipment Accumulated depreciation-machinery and equipment Patents (414,540) 781,200 (191,520) 112,000 (214,200) 106,960 Total assets $4,251,800 $3,724,420 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Salaries payable Mortgage note payable, due in nine years Bonds payable $837,480 32,760 78,960 $927,080 25,200 87,080 224,000 0 0 390,000 0 Lana SCKHOTOSU Accounts payable (merchandise creditors) $837.480 $927,080 Dividends payable 32,760 25,200 Salaries payable 78,960 87,080 Mortgage note payable, due in nine years 224,000 0 Bonds payable 390,000 Common stock, $5 par 200,400 50,400 Pald.in capital: Excess of issue price over par--common stock 366,000 126,000 Retained earnings 2,512,200 2,118,660 Total liabilities and stockholders' equity $4,251,800 $3,724,420 An examination of the income statement and the accounting records revealed the following additional information applicable to 2014: a. Net Income, $524,580. b. Depreciation expense reported on the income statement buildings, $51,660; machinery and equipment, $22,680. C. Patent amortization reported on the income statement, $5,040, d. A building was constructed for $579,600. e. A mortgage note for $224,000 was issued for cash. f. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. 9. Cash dividends declared, $131,040. Required: Prepare a statement of cash nows, using the Indirect method of presenting cash flows from operating activities. Use the minus sign to Indicate cash out flov- payments, decreases in cash, or any negative adjustments. Harris Industries Inc Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities: ebook Show Me How Print Item Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: il bli Net cash flow from operating activities Cash flows from Investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Changes in current operating assets and liabilities: DI III Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: ] O OOO Net cash flow from financing activities Cash at beginning of the year Cash at end of the year Schedule of Non cash Financing and investing Activities

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