ABC Company is developing its annual financial statements at December 31 , Year 2 . The completed comparative balance sheets and income statement are summarized below: Balance sheets at December 31 Otherinformation: All purchases of equipment in Year 2 were for cash. All common shares issued in Year 2 were for cash. ABC did not sell any equipment in Year 2 and did not repurchase any shares. ABC sold land in Year 2 for $50,000 cash. The land originally cost $45,000. Required: Complete the statement of cash flows for Year 2, using the indirect method (not all rows may be necessary). Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities: Net income Adjustments ABC Company is developing its annual financial statements at December 31 , Year 2 . The completed comparative balance sheets and income statement are summarized below: Balance sheets at December 31 Otherinformation: All purchases of equipment in Year 2 were for cash. All common shares issued in Year 2 were for cash. ABC did not sell any equipment in Year 2 and did not repurchase any shares. ABC sold land in Year 2 for $50,000 cash. The land originally cost $45,000. Required: Complete the statement of cash flows for Year 2, using the indirect method (not all rows may be necessary). Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities: Net income Adjustments