g data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period Stock was issued for cash-3,200 shares at par Net income for the current year was $76,000. Cash dividends declared and paid were $13,000. Current Year Prior Year Assets Cash Accounts Receivable (net) Inventories Equipment Accumulated Depreciation Total assets $ 170,000 $74,000 78,000 85,000 106,500 395,000 370,000 (195,000) (158,000) 554,500 $461,000 Liabilities and stockholders' equity $51,000 2,500 262,000 239,000 Accounts Payable (merchandise creditors) $50,000 230,000 Common Stock, $10 par Retained Earnings 176,000 Previous @ en" a9