Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Statement of Cash FlowsIndirect Method Operating activities: Net income $ 40,700 Adjustments to convert net income to cash basis: Depreciation $ 21,500 Increase in accounts receivable (61,000) Increase in inventory (25,300) Decrease in prepaid expenses 9,300 Increase in accounts payable 54,600 Decrease in accrued liabilities (10,200) Increase in income taxes payable 4,000 (7,100) Net cash provided by operating activities 33,600 Investing activities: Proceeds from the sale of equipment 15,800 Loan to Thomas Company (41,900) Additions to plant and equipment (121,900) Net cash used for investing activities (148,000) Financing activities: Increase in bonds payable 88,300 Increase in common stock 38,800 Cash dividends (28,200) Net cash provided by financing activities 98,900