Alexander Company's comparative balance sheets for December 31 of 2018 and 2017 are shown below. Dec 31, 2018 Dec 31, 2017 Increase Decrease Assets $ 97,700 $ 40,100 $ 57,600 Cash 11,000 10,000 1,000 Accounts Receivable (net) 2,100 34,800 32,700 Inventory 6,300 3,500 9,800 Prepaid Expenses 63,000 10,000 73,000 Plant Assets (19,600) (28,800) 9,200 Accumulated Depreciation $ 197,500 $ 132,500 Total Assets Liabilities and Stockholders' Equity $ 17,400 $ 14,900 2,500 Accounts Payable 5,700 2,600 3,100 Wages Payable 3,300 3,000 300 Income Tax Payable 50,000 50,000 Bonds Payable ----- Common Stock, $10 par 69,000 59,000 10,000 29,000 15,000 44,000 Additional Paid-in Capital abilities and Stockholders' Equity $ 17,400 $ 14,900 2,500 Accounts Payable 2,600 5,700 3,100 Wages Payable 3,300 3,000 300 Income Tax Payable 50,000 50,000 Bonds Payable ----- 69,000 59,000 10,000 Common Stock, $10 par 44,000 Additional Paid-in Capital 29,000 15,000 $ 11,000 13,000 24,000 Retained Earnings (4,900) 4,900 Treasury Stock ----- Total Liabilities and Stockholders' $ 197,500 $ 132,500 Equity The following information is taken from Alexander's financial records. During 2018, equipment was sold for $24,400. The equipment had an original cost of $35,000 and a current book value of $29,000. 1,000 shares of common stock were issued for $25 per share. Depreciation expense for 2018 was $15,200. Net income for the year was $5,000. Required: Prepare the operating activities section of the statement of cash flows for Alexander Company, indirect method. Assume that all accounts payable relate to purchases of inventory. Note: The financing activities and investing activities sections have been completed. Alexander company Statement of Cash Flows For the Year Ended December 31, 2018 Operating Activities $ 5,000 Net Income Add: (Choose one) Deduct: (Choose one) $ 5,000 Net Cash Flow from (used for) Operating Activities Investing Activities