Cullumber Ltd. Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income / (Loss) $54,500 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense Patent Amortization Expense Gain on Disposal of Equipment Decrease in Accounts Receivable Decrease in Inventory Decrease in Prepaid Insurance Decrease in Salaries and Wages Payable Decrease in Accounts Payable $ Decrease in Inventory Decrease in Prepaid Insurance Decrease in Salaries and Wages Payable Decrease in Accounts Payable Cash Flows from Operating Activities $ Additional information: - Net income for the fiscal year was $54,500. - Equipment that cost $41,000 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 Cullumber 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).) Cullumber Ltd., which follows ASPE had the following comparative statement of financial