Based on the following information, prepare a statement of cash flows for Year 2. Use the indirect method.

Based on the following information, prepare a statement of cash flows for Year 2. Use the indirect method. The CFS Corporation Comparative Balance Sheet As of December 31, Year 1 and Year 2 December 31 Year 1 Year 2 Assets Current assets Cash $10,000 $30,000 Accounts receivable 20,000 15,000 Inventories 15,000 20,000 Total current assets 45,000 65,000 Property, plant, and equipment Land 10,000 10,000 Building and equipment 100,000 120,000 Accumulated depreciation (10,000) (20,000) Total property, plant, and 100,000 110,000 equipment Total Assets $145,000 $175,000 Liabilities and Shareholders' EquityLiabilities and Shareholders' Equity Current liabilities Accounts payable $20,000 $30,000 Total current liabilities 20,000 30,000 Noncurrent liabilities Bonds payable 50,000 40,000 Notes payable 20,000 30,000 Total noncurrent liabilities 70,000 70,000 Shareholders' equity Common stock 20,000 30,000 Retained earnings 35,000 45,000 Total shareholders' equity 55,000 75,000 Total Liabilities and Shareholders' $145,000 $175,000 Equity