Audio City, Incorporated, is developing its annual financial statements at December 31 . The statements are complete except for the statement of cash fows. The completed comparative balance sheets and income statement are summorized below Additional Data: a. Bought equipment for cash, $69,000. b. Paid $13,000 on the long-term notes payable. c. Issued new shares of stock for $26,000 cash. d. Dividends of $4,600 were paid in cash. e. Other expenses included depreciation, $13,000; salaries and wages, $18,000; taxes, $23,000. f. Accounts Payable includes only inventory purchases made on credit. Because a liability relating to takes does not exist, assume that they were fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) AUDIO CITY INCORPORATED Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities