California Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Comparative Balance Sheet Accounts Payable Accrued Liabilities Long-term Notes Payable Total Liabilities California Corp. December 31, 2024 and 2023 2024 2023 Increase (Decrease) $8,000 $9,000 $(1,000) 3,000 1,500 1,500 56,000 60,000 (4,000) $67,000 $70,500 $(3,500) The change in Accrued Liabilities is shown as a negative cash flow in the adjustments to net income. True False