Assets Cash MIKOS INC. Comparative Statements of Financial Position December 31 Short-term investments 2024 2023 $ 9,900 $ 17,900 60,300 31,700 Accounts receivable Inventories, at cost 72,500 29,600 55,800 Prepaid expenses 40,900 4,900 7,800 Land 48,600 74,500 Property, plant, and equipment, net 283,600 183,500 Intangible assets Liabilities and Shareholders' Equity Accounts payable Income tax payable $ 17,900 $ 41,800 7,800 24,900 29,800 $560,500 $415,700 Accrued liabilities Long-term notes payable Share capital Retained earnings MIKOS INC. Statement of Earnings 1,900 10,900 -0- 119,000 168,000 218,000 64,500 186,900 139,500 $560,500 $415,700 For the Year Ended December 31, 2024 Sales $877,000 Cost of sales $439,000 Operating expenses 230,000 Amortization expense-intangible assets 4,900 Depreciation expense-property, plant, and equipment 33,900 Interest expense 12,900 720,700 Earnings before income taxes 156,300 Income tax expense 46,890 Net earnings $109,410 Additional information is as follows: a. Land was sold for cash at its carrying amount. b. Mikos sells its short-term investments within three months of purchasing them. c. Cash dividends were declared and paid in 2024. d. New equipment with a cost of $166,900 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $14,500 were paid in cash, and notes of $34,500 were converted to shares. Required: 1. Prepare a statement of cash flows for Mikos Inc. for the year ended December 31, 2024 by using the indirect method. (Negative answers should be indicated by a minus sign.)