138 0AAA6BAF0158ASCB7B62287E0000 Quizse quiz probGuid QNAPCOA801010000003767fif00900008ctc julie-rubin-0005&ck 7.149555 Attempts: Keep the Highest: 121 An Aa 6. statement of cash flows Indirect method The income statement and comparative balance sheets for vasquez Inc. are shown below. Thestatement of retained earnings (not shown) indicates that vasquez paid $157,500 in cash dividends during the year. The company uses the indirect method for preparing the statement of cash flows. use the information provided in these financial statements to construct vasquez's statement of cash flows. Complete the statement by entering the appropriate value. Note: Be sure to enter a negative sign for those values that represent a cash outflow. It is not necessary to enter positive sign for a cash flow representing an inflow. Vasquez Inc. Balance Sheet As of December 31, Year 2 Increase Year 1 Decrease Year 2 Income statement $70,800 $30,750 $40,050 For the Year Ending December 31, Year 2 13,500 $2,625,000 Inventories 251,700 222,750 28,950 Property equipment 516 855 463,050 53,805 Cost of goods sold 1,588,125 50,550 $1,036 875 Total assets $840,000 $750,000 $90,000 Depredation expense Liabilities other operating expenses Accounts payable $109,200 $67,500 $41,700 Total operating expenses 420,000 28,125 5,475 16,875 Accrued taxes payable oparating profit (EBIT) 12,300 Interest expense 223,125 123,900 189,375 $393,750 Total liabilities $294,000 $300,000 6,000 131,250 Stockholders' Equity $262,500 $82,875 $91,875 9,000 Retained oamings 358,125 105,000 Total stockholders' equity 1546.000 $450,000 $96,000 Total liablities and equity $840,000 $750,000 $90,000 Vasquez Inc. Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities