Condensed comparative balance sheets for Larson Co. at December 31, Years 1 and 2, appear as follows: Cash Accounts receivable (net) Inventories Equipment Accumulated depreciation Total assets Year 2 Year 1 $100,000 $78,000 78,000 85,000 101,500 90,000 410,000 370,000 (150,000) (158,000) $539,500 $465,000 Accounts payable (merchandise creditors) $58,500 $55,000 Cash dividends payable 5,000 4,000 Common stock, $10 par 200,000 170,000 Paid-in capital in excess of par 62,000 60,000 Retained earnings 214,000 176,30 Total liabilities and stockholders' equity $539,500 $465,000 In addition to the balance sheet data, assume that: Equipment costing $125,000 was purchased for cash. In addition to the balance sheet data, assume that: Equipment costing $125,000 was purchased for cash. Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000. .The stock was issued for cash. The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000. Prepare a statement of cash flows for the year ended December 31, Year 2, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: 69 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, Year 2 Cach balance December 21 Voar 2 59 13 5 $ S