16 MY Corporation is preparing its statement of cash flows for the past year The company has gathered the folowing information about the past year just ended on December 31 View the activity for the year Requirement Prepare a statement of cash flows for the past year using the indirect method Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow) M.Y. Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: (1) Adjustments to reconcile net income to cash basis) (2) (3) (4) (5) (6) 00 (8) (9) (10) Net cash provided by (used for) operating activities Investing Activities: (11) (12) Net cash provided by (used for) investing activities Financing Activities: (13) (14) Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Retire bond payable (long-term) $ 10,000 Decrease in accounts receivable $ 9,000 Paid dividends in cash $ 35,000 Increase in salaries payable $ 6,000 Decrease in inventory $ 10,000 Depreciation expense $ 17,000 Decrease in accounts payable S 5.000 Increase in prepaid insurance $ 700 Sold land (investment) Increase in interest payable Cash balance, beginning of year Net Income $ 26.000 Decrease in other short-term liabilities S 3,000 S 600 Increase in taxes payable S 4,000 $ 87,000 Purchase of new computer system with casb $ 9,000 $ 87.000