DB 5.3 - Preparation of a Statement of Cash Flows Using the Indirect Method The comparative balance sheets of Delly Corp. Inc. at the end of the two most recent years appear below. Current Year Prior Year Inc./Dec. Assets: $ 26,000 186,000 Cash $ 90,000 Accounts receivable 182,000 Equipment 78,000 Less: Accum. Depreciation (34,000) Total $ 316,000 $ 64,000 Inc. 4,000 Dec. 34,000 Inc. 12,000 Inc. 44,000 (22,000) S 234,000 Liabilities and Stockholders' Equity: $ 40,000 $ 50,000 $ 10,000 Dec. 40,000 Inc. 160,000 Accounts payable Common stock Retained earnings Total 200,000 76,000 $ 316,000 24,000 42,000 Inc. $ 234,000 During the current year, net income of $98,000 was reported and dividends of $46,000 were paid. Also, new equipment was purchased and none was sold. Required: Prepare a statement of cash flows for the current year. Use the Indirect Method, as illustrated in class