Crane Ltd., which follows ASPE had the following comparative statement of financial position: Assets Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation-equipment Patents Crane Ltd. Comparative Statement of Financial Position December 31 Total assets Accounts payable Notes payable 2024 $80,500 136,000 80,600 11,200 300,000 (72,800) 81,600 $617,100 Liabilities and Shareholders' Equity $90,600 7,900 2023 $48,500 97,500 121,500 8,900 250,500 (52,800) 100,900 $575,000 $79,000 12,100 Accounts payable Notes payable Salaries and wages payable Income taxes payable Long-term note payable Common shares Retained earnings Total liabilities and shareholders' equity Additional information: Liabilities and Shareholders' Equity $90,600 7,900 15,300 16,500 117,500 261,300 108,000 $617,100 $79,000 12,100 6,800 20,200 135,200 261,300 60,400 $575,000 Net income for the fiscal year was $54,500. Equipment that cost $41,600 and was 70% depreciated was sold during 2024, for a gain of $4,000. No patents were purchased or sold during the fiscal year. The current Notes Payable are trade payables issued by Crane Ltd. for the purchase of inventory. Prepare the operating activities section of a statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Crane Ltd. Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income /(Loss) Adjustments to reconcile net income to net cash provided by operating activities: $ V $ Adjustments to reconcile net income to net cash provided by operating activities: $ $ $