I need help with this accounting assignment

Suppose the income statement for Goggle Company reports $155 of net income, after deducting depreciation of $20. The company bought equipment costing $135 and obtained a long-term bank loan for $140. The companys comparative balance sheet, at December 31, is presented here.

Required:

1. 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease).
2. 2. Prepare a statement of cash flows using the indirect method.

Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease). (Select "NE" if there is no effect. Enter all amounts as positive values.) Previous Year 50 Change Type Current Year 355 Cash Accounts Receivable 90 205 335 150 575 710 Inventory Equipment Accumulated Depreciation- Equipment Total (30) (50) $ 1,020 $ 1,370 $ 25 $ 80 460 600 Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings Total 25 25 665 510 1,020 $ $ 1,370 GOGGLE COMPANY 155 Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income $ Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation $ 20 Increase in Accounts Receivable X $ (115) X Changes in Current Assets and Current Liabilities Decrease in Inventory 185 Increase in Salaries and Wages Payable 55 300 Cash Flows from Investing Activities: Equipment Purchased (135) (135) Cash Flows from Financing Activities: Obtained Bank Loan 140 140 Net Decrease in Cash 305 50 Cash, Beginning of Current Year Cash, End of Current Year $ 355