Calculator On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period. Stock was issued for cash-3,200 shares at par. Net income for the current year was $76,000. Cash dividends decdared and paid were $13,000. Prior Year Current Year Assets $74,000 $170,000 Cash 85,000 78,000 Accounts Receivable (net) 106,500 90,000 Inventories 370,000 395,000 Equipment (158,000) (195,000) Accumulated Depreciation $461,000 $ 554,500 Total assets Liabilities and stockholders' equity $50,000 $51,000 Accounts Payable (merchandise creditors) 2,500 5,000 Taxes Payable 230,000 262,000 Common Stock, $10 par 176,000 239,000 Retained Earnings $461,000 $ 554,500 Total Liabilities and Stockholders' Equity Previou Calculator Accounts Payable (merchandise creditors) $51,000 $50,000 Taxes Payable 2,500 5,000 Common Stock, $10 par 262,000 230,000 Retained Earnings 239,000 176,000 Total Liabilities and Stockholders' Equity $461,000 $554,500 Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Breach Co. Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Pomcious Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities Net cash flow from operating activities Cash flows from investing activities Net cash flow used for investing activities Cash flows from financing activitiees Net cash flow provided by financing activities Cash at the beginning of the year Cash at the end of the year Previoum