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Indirect Method-Preparing a Statement of Cash Flows A combarative balance sheet for Combanv X follows. Net income was $75,000 and cash dividends of $30, Required Prepare a statement of cash flows for the year ended December 31, using the indirect method to present cash flows from operating activities. - Note: include a negative sign (-) for any amount that would be subtracted in the statement of cosh flows. acome was $75,000 and cash dividends of $30,000 were paid during the year. No buildings and equipment were sold during the year. Land was sold at cost