Beginning cash balance $ 18,000 Accounts payable increase 4,275 Depreciation expense 30,750 Accounts receivable decrease 3,600 Inventory decrease 2,325 Net income 42,900 Cash received for sale of land at book value 78,000 Cash dividends paid 28,500 Income taxes payable decrease 2,925 Cash used to purchase land 60,750 Cash used to redeem bonds 49,500 Cash received from issuing stock 120,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash fl with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Coronado Industries Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to