a. Net Income, $524,580. b. Depreciation expense reported on the income statement: buildings, $51,660; machinery and equipment, $22,680. c. Patent amortization reported on the income statement, $5,040. d. A building was constructed for $579.600. e. A mortgage note for $224,000 was issued for cash. f. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. g. Cash dividends declared, $131,040, Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out hows, cash payments, decreases in cash, or any negative adjustments. Harris Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities Net Income Adjustments to reconciled income to nel cash flow from operating activities Depreciation Changes in current operating assets and labuities Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: O O OOO O Net cash flow from financing activities Cash at beginning of the year Cash at end of the year Schedule of Non cash Financing and investing Activities: a. Net Income, $524,580. b. Depreciation expense reported on the income statement: buildings, $51,660; machinery and equipment, $22,680. c. Patent amortization reported on the income statement, $5,040. d. A building was constructed for $579.600. e. A mortgage note for $224,000 was issued for cash. f. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. g. Cash dividends declared, $131,040, Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out hows, cash payments, decreases in cash, or any negative adjustments. Harris Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2014 Cash flows from operating activities Net Income Adjustments to reconciled income to nel cash flow from operating activities Depreciation Changes in current operating assets and labuities Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: O O OOO O Net cash flow from financing activities Cash at beginning of the year Cash at end of the year Schedule of Non cash Financing and investing Activities