I U ab X, XA V E IN Font Paragraph ACCT 305- Assignment 2 Part 1 - An income statement for 2021 is provided below for Globex Corporation: Sales $1,200,000 Expenses 800,000 Earnings before Tax 400,000 Income Tax Expense 120,000 Net Income 280,000 The following balance sheet information is also available: 2021 2020 Cash 175,000 250,000 A/R 250,000 120,000 A/P 20,000 180,000 Taxes payable 40,000 100,000 Additional Long-term investments with a cost of $250,000 were sold for $225,000 Equipment with a book value of 30,000 was sold for 80,000 (assume gains and losses are included in the income statement expenses line) 70,000 of dividends were paid to shareholders Operating expenses include 85,000 of depreciation expense Paid off long-term debt of 300,000 Required: Prepare the 2021 statement of cash flows using the indirect method in the template provided (you may or may not need all the provided) Dd ADBUC AdbDCCL