1) As the accountant for Genetic Incorporated, you are responsible for preparing the cash flow statement. You have decided to prepare the statement using the indirect method and have gathered together the following data from the accounting records: Principal payments on non-current debt $50,000 Collections on accounts receivable 287,500 Increase in accounts payable 24,300 Acquisition of equipment by issuing non-current note payable 70,000 Depreciation expense 71,300 Collection of loan principal 58,000 Proceeds from sale of investments, not including $5,100 gain 49,100 Increase in accounts receivable 7,200 Cash payments to purchase capital assets 62,000 Decrease in accrued liabilities 30,600 Payment of cash dividends 46,500 Income tax expense and payments 39,300 Proceeds from sale of capital assets, not including $7,400 loss 22,600 Net income 147,100 Cash sales 217,400 Proceeds from issuance of common shares 300,000 Increase in inventory 41,700 Loan to another company 60,000 Bonds payable converted into common shares Payments to suppliers 283,100 Decrease in prepaid expenses 12,800 Cash balance: December 31, 2019 Cash balance: December 31, 2020 62.500 452,000 130,000 Prepare the operating activities section of the cash flow statement for the Genetic Incorporated using the indirect method.