4. (15 points) The following information is available for the Aarons Corporation: Assets: Cash. Aarons Corporation Balance Sheets At December 31 Year 2 Year 1 $ 24,640 $ 23,040 Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation Total assets Liabilities: Accounts payable Income taxes payable. Bonds payable Total liabilities Equity: Common stock Paid-in capital in excess of par Retained earnings Total equity Total liabilities and equity 32,180 73,125 55,900 175,500 29,400 61,710 56,400 145,500 (33,550) (31,200) $ 327,795 $ 284,850 $ 65,000 10,725 48,750 40,380 10,200 66,000 $ 124,475 $ 116,580 117,000 13,000 73,320 96,000 9,000 63,270 $ 203,320 $ 168,270 $ 327,795 $ 284,850 Sales Aarons Corporation Income Statement For Year Ended December 31, Year 2 Cost of goods sold $ 240,000 $ 80,900 29,400 Other operating expenses Depreciation expense Interest expens Other gains (losses): Loss on sale of equipment Income before taxes Income taxes expense Net income. 48,000 2,000 (160,300) (8,400) 71,300 27,650 $ 43,650 Additional information: (1) There was no gain or loss on the $500 sales of the long-term investments, nor on the bonds retired. (2) Old equipment with an original cost of $37,550 was sold for $2,100 cash. (3) New equipment was purchased for $67,550 cash. (4) Cash dividends of $33,600 were paid. (5) Additional shares of stock were issued for $25,000 cash. (6) Paid to retire bonds: $66,000 - $48,750 = $17,250 Prepare a complete statement of cash flows for Year 2 using the indirect method