1 Required: 2 Complete the statement of cash flows (indirect method) shown below by using formulas that reference 3 data from the income statement and balance sheet (found by clicking the tabs at the bottom of this 4 worksheet. Note: Blank cells may be included in colculations. \begin{tabular}{|l|l|l|l|} \hline 5 & \multicolumn{2}{|c|}{ INNOVATION ELECTRONICS, INC. } \\ \hline 6 & \multicolumn{2}{|c|}{ For the Year Ended December 31, 20x2 } \\ \hline 7 & 9 & Cash Flows from Operating Activitiest \\ \hline 10 & Net income & \\ \hline 11 & Adjustments to reconcile net income to net cash & \\ \hline 12 & provided by operating activities: & \\ \hline 13 & Depreciation expense \\ \hline 14 & Gain (on sale of land) & \\ \hline 15 & Changes in current assets and current liabilities: & \\ \hline 16 & Accounts receivable & \\ \hline 17 & Inventory & & \\ \hline 18 & Prepaid insurance & & \\ \hline 19 & Accounts payable & & \\ \hline 20 & Interest payable & & \\ \hline 21 & Income tax payable & \\ \hline 22 & Net cash provided by (used in) operating activities & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline 24 & Cash Flows from Investing Activities: & \\ \hline 25 & Purchase investments & & \\ \hline 26 & Sale of land & & \\ \hline 27 & Net cash provided by (used in) investing activities \\ \hline 28 & & & \\ \hline 29 & Cash Flows from Financing Activities: & \\ \hline 30 & Issue common stock & & \\ \hline 31 & Issue long term note & & \\ \hline 32 & Net cash provided by (used in) financing activities & & \\ \hline 33 & Net increase (decrease) in cash & & \\ \hline 34 & Cash at beginning of the period & & \\ \hline 35 & Cash at end of the period & & \\ \hline \end{tabular} 1 Required: 2 Complete the statement of cash flows (indirect method) shown below by using formulas that reference 3 data from the income statement and balance sheet (found by clicking the tabs at the bottom of this 4 worksheet. Note: Blank cells may be included in colculations. \begin{tabular}{|l|l|l|l|} \hline 5 & \multicolumn{2}{|c|}{ INNOVATION ELECTRONICS, INC. } \\ \hline 6 & \multicolumn{2}{|c|}{ For the Year Ended December 31, 20x2 } \\ \hline 7 & 9 & Cash Flows from Operating Activitiest \\ \hline 10 & Net income & \\ \hline 11 & Adjustments to reconcile net income to net cash & \\ \hline 12 & provided by operating activities: & \\ \hline 13 & Depreciation expense \\ \hline 14 & Gain (on sale of land) & \\ \hline 15 & Changes in current assets and current liabilities: & \\ \hline 16 & Accounts receivable & \\ \hline 17 & Inventory & & \\ \hline 18 & Prepaid insurance & & \\ \hline 19 & Accounts payable & & \\ \hline 20 & Interest payable & & \\ \hline 21 & Income tax payable & \\ \hline 22 & Net cash provided by (used in) operating activities & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline 24 & Cash Flows from Investing Activities: & \\ \hline 25 & Purchase investments & & \\ \hline 26 & Sale of land & & \\ \hline 27 & Net cash provided by (used in) investing activities \\ \hline 28 & & & \\ \hline 29 & Cash Flows from Financing Activities: & \\ \hline 30 & Issue common stock & & \\ \hline 31 & Issue long term note & & \\ \hline 32 & Net cash provided by (used in) financing activities & & \\ \hline 33 & Net increase (decrease) in cash & & \\ \hline 34 & Cash at beginning of the period & & \\ \hline 35 & Cash at end of the period & & \\ \hline \end{tabular}