Comparative financial statement data for Carmono Company follow: Cash Accounts receivable Inventory Plant and equipment Less: Accumulated depreciation Year 2 $ 3 22 50 240 (65) Year 1 $ 6 24 40 200 (50) Total assets $250 $220 Accounts payable Common shares Retained earnings $ 40 150 60 $ 36 145 39 Total liabilities and stockholders' equity $250 $250 For year 2, the company reported net income as follows: Sales Cost of goods sold $275 150 Gross margin Operating expenses 125 90 Net income $ 35 Dividends of $14 were declared and paid during year 2. Prev 1 of 1 Required: 1. Using the indirect method, prepare a cash flow statement for year 2. (List any deduction in cash and cash outflows as negative amounts.) CARMONO COMPANY Cash Flow Statement For Year 2 Operating activities: Adjustments needed to convert net income to a cash basis: ces 0 0 Investing activities: 0 Financing activities 0 0 Cash, beginning of the year Cash, end of the year $ 0