Based on the information provided below, complete the following worksheet to be used to prepare the statement of cash flows using the indirect method. (a) Net income for the year was $30,000. (b) Dividends of $10,000 were declared and paid. (c) Stylish's only noncash expense was depreciation which totaled $50,000. (d) The company purchased plant assets for $70,000. (e) Notes payable in the amount of $40,000 were issued during the year for cash. Stylish Corporation Spreadsheet for Statement of Cash Flows Indirect Method For Year Ended December 31, 2013 Analysis of Changes 12/31/12 Debit Credit 12/31/13 Balance Sheet Debits Cash 70,000 60,000 Accounts receivable 180,000 190,000 Merchandise inventory 200,000 230,000 Plant assets 500,000 570,000 950,000 1,050,000 Balance Sheet Credits Accumulated depreciation 100,000 150,000 Accounts payable 170,000 160,000 Notes payable 350,000 390,000 Capital stock 200,000 200,000 Retained earnings 130,000 150,000 950,000 1,050,000 Statement of Cash Flows Operating activities Net income Increase in accounts receivable Increase in merchandise inventory Decrease in accounts payable Depreciation expense Investing activities Cash paid to purchase plant assets Financing activities Cash paid for dividends Cash received from note payable