Hought Office Machines, Inc.'s accountants assembled the following selected data for the year ended December 31, 2018: 22 Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Requirement 1. Prepare Hought Office Machines, Inc.'s statement of cash flows using the indirect method to report operating activities. List noncash investing and financing activities on an accompanying schedule. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) 60000 6000 21100 -51001 4500 2400 -2500 Hought Office Machines, Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by used for) operating activities: Loss on sale of equipment Depreciation expense Increase in accounts receivable Decrease in inventory Increase in accounts payable Decrease in income tax payable Net cash provided by (used for) operating activities Cash flows from investing activities: Acquisition of building Loss on sale of equipment Net cash provided by used for) investing activities Cash flows from financing activities: Purchase of treasury stock Proceeds from issuance of common stock Payment of dividends Proceeds from issuance of long-term note payable Net cash provided by (used for) financing activities Net increase (decrease) in cash: 86400 -123000 51000 -72000 -14300 36600 -18500 39000 428001 57200 Cash balance, December 31, 2017 29000 86200 Cash balance, December 31, 2018 Noncash investing and financing activities: Decrease in inventory 89000 - X Data Table Hought Office Machines, Inc. December 31 2018 2017 86,200 $ 29.000 69,300 64,200 Current assets: Cash and cash equivalents...... $ Accounts receivable Inventory Current liabilities: Accounts payable $ Income tax payable 79,100 83,600 58.400 $ 56.000 14.300 16,800 Print Done - X Data Table Transaction Data for 2018: Net income $ 60,000 14,300 36.600 6,000 18,500 Purchase of treasury stock. Issuance of common stock for cash. Loss on sale of equipment Payment of cash dividends Depreciation expense. Issuance of long-term note payable in exchange for cash Purchase of building for cash. Retirement of bonds payable by issuing common stock Sale of equipment for cash. 21,100 39,000 123,000 63,000 51,000 Print Done