Condensed financial data of Novak Inc. follow. \begin{tabular}{|c|c|c|} \hline Accumulated depreciation & (90,000) & (93,600) \\ \hline Total & $1,228,500 & $926,550 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Stockholders' Equity } \\ \hline Accounts payable & $183,600 & $121,140 \\ \hline Accrued expenses payable & 29,700 & 37,800 \\ \hline Bonds payable & 198,000 & 262,800 \\ \hline Common stock & 396,000 & 315,000 \\ \hline Retained earnings & 421,200 & 189,810 \\ \hline Total & $1,228,500 & $926,550 \\ \hline \end{tabular} Novak Inc. Income Statement Data Novak Inc. Income Statement Data For the Year Ended December 31, 2025 Sales revenue $699,228 Less: \begin{tabular}{|c|c|c|} \hline Cost of goods sold & $243,828 & \\ \hline Operating expenses, excluding depreciation & 22,338 & \\ \hline Depreciation expense & 83,700 & \\ \hline Income tax expense & 49,104 & \\ \hline Interest expense & 8,514 & \\ \hline Loss on disposal of plant assets & 13,500 & 420,984 \\ \hline let income & & $278,244 \\ \hline \end{tabular} Additional information: 1. New plant assets costing $180,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $103,500 and accumulated depreciation of $87,300 were sold for $2,700 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $46,854 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) NOVAK INC. Statement of Cash Flows - Indirect Method For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Cash at Beginning of Period Cash at End of Period