comparative balance sheets and income statements for Vernon Company follow: Additional Date 1. During Year 2 , the company sold equipment for $18,233; it had originally cost $28,800. Accumulated depreciation on this equipmen was $11,067 at the time of the sale. Also, the company purchased equipment for $6,630 cash. 2. The company sold land that had cost $4,600. This land was sold for $4,500, resulting in the recognition of a $100 loss. Also, common stock was issued in exchange for title to land that was valued at $11,500 at the time of exchange. 3. Paid dividends of $10,136. Required Prepare a statement of cash flows using the indirect method. Note: Amounts to be deducted and cosh outflows should be indicoted by o minus sign. VERNON COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: Less: Increase/Decrease in current assets and current liabilities