Apex Company prepared the statement of cash flows for the current year that is shown below: Apex Company Depreciation Increase in accounts receivable Increase in inventory Operating activities: Net income Statement of Cash Flows-Indirect Method Adjustments to convert net income to cash basis: $ 21,500 (60,400) (26,200) $ 41,600 Decrease in prepaid expenses 9,200 Increase in accounts payable 54,900 Decrease in accrued liabilities (11,500) Increase in income taxes payable 3,300 (9,200) Net cash provided by (used in) operating activities Investing activities: 32,400 Proceeds from the sale of equipment 15,800 Loan to Thomas Company. (40,900) Additions to plant and equipment (120,100) Net cash provided by (used in) investing activities Financing activities: (145,200) Increase in bonds payable 89,400 Increase in common stock 38,600 Cash dividends (29,200) 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 98,800 (14,000) 28,400 $ 14,400