Additional information pertaining to 2021: 1. Net income was $98,000. Sales were $974,000. 2 . 3 . . Cost of goods sold was $752,000. 4. Operating expenses were $42,000, exclusive of depreciation expense. 5. Depreciation expense was $44,000. 6. Interest expense was $14,000. 7. Income tax expense was $29,000. 8. Long-term investments were sold at a gain of $5,000. 9. No equipment was sold during the year. 10. $14,000 of the bank loan was repaid during the year. 11. Common shares were issued for $26,000. The comparative unclassified statement of financial position for Wildhorse Ltd. follows: WILDHORSELTD. Statement of Financial Position December 31 Assets 2021 2020 Cash $55,000 $20,000 Accounts receivable 88,000 82,000 Inventory 180,000 183,500 Estimated inventory returns 4,000 3,000 73,000 125.000 Long-term investments Equipment 285,000 166,000 Accumulated depreciation (76,000) (32.000) $609,000 5547,500 Total assets Liabilities and Shareholders' Equity $28.000 $ 46,500 Accounts payable 7.000 6,000 Refund liability 164.000 178,000 Bank loan payable (noncurrent) 205.000 179.000 Common shares 205.000 138.000 Retained earnings $609.000 5547500 Total liabilities and shareholders' equity Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with elthera - signes. -45,000, or in parenthesise.g. (45,000).) WILDHORSE LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to > $ -/15 E > >