CC 301- QUIZ 2 are the comparative December 31 financial statements for Martin Industries, Inc. (in S Millions). 3) Presented below Prepare a statement of cash flows for December 31, Year 2 using the indirect method. Martin Industries, Inc Balance Sheets At December 31, Year 2 and Year 1 Year 2 Yearl $96,719 $28,694 Cash 100,00085,313 206,250 181,250 1,8752,500 Accounts Receivable Inventory o Prepaid Insurance Land, Buildings, and Equipment Accumulated Depreciation 1,562,500 1,406,250 (762,500) (15,000) Investments 19.375 106.250 S1.221219 51.035,256 $95,425 $185,838 Total Assets Accounts Payable 25,000 30,625 31,250 93,750 250,000 375,000 375,000 447544 410044 Salaries Payable Notes Payable Bonds Payable Common Stock Retained Earnings 1.224212 $1,095256 Additional information for Year 2 (1) Sold available for sale securities costing $86,875 for $92,500 (2) Equipment costing $25,000 with a book value of $6,250 was sold for $7,500. (3) Issued 8% bonds at face value for $250,000. (4) Purchased new equipment for $181,250 and paid cash. (5) Paid cash dividends of $25,000. (6) Net income was $62,500