Apex Company prepared the statement of cash flows for the current year that is shown below: Operating activities: Net income Apex Company Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: $ 41,900 Depreciation Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable Net cash provided by (used in) operating activities $ 20,400 (60,200) (25,500) 9,400 53,600 (0,700) 3,900 (9,100) 32,800 Investing activities: Proceeds from the sale of equipment 14,700 Loan to Thomas Company (41,200) Additions to plant and equipment (120,200) Net cash provided by (used in) investing activities (146,700) Financing activities: Increase in bonds payable 89,000 Increase in common stock Cash dividends Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents 39,100 (29,200) 98,900 (15,000) 28,2001 $ 13,200