ICE Drilling Inc.'s balance sheet information and income statement are as follows: Additional information regarding ICE Drilling's activities during 2023: 1. Loss on sale of equipment is $12,080. 2. Paid $70,880 to reduce a long-term note payable. 3. Equipment costing $108,000, with accumulated depreciation of $66,000, is sold for cash. 4. Equipment costing $216,480 is purchased by paying cash of $56,600 and signing a long-term note payable for the balance. 5. Borrowed $8,400 by signing a short-term note payable. 5. Borrowed $8,400 by signing a short-term note payable. 6. Issued 10,080 common shares for cash at $10 per share. 7. Declared and paid cash dividends of $139,760. Required: Prepare a statement of cash flows for 2023 that reports the cash inflows and outflows from operating activities according to the indirect method. (List any deduction in cash and cash outflows as negative amounts.) Cash flows from investing activities: Cash flows from financing activities: Analysis Component: Merchandise Inventory, Prepaid Expenses, Notes Payable, and Common Shares are some of the accounts that changed during 2023. Indicate what transactions likely caused each of these accounts to increase and/or decrease. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) Merchandise inventory: increases caused by the purchase of merchandise decreases caused by the purchase of merchandise decreases caused by the sale of merchandise increases caused by the sale of merchandise Prepaid expenses: increases caused by the purchase of prepaid items, that is, such as the payment of rent or insurance in advance decreases caused by the use of prepaid expenses decreases caused by the purchase of prepaid items, that is, such as the payment of rent or insurance in advance increases caused by the use of prepaid expenses lotes payable: increases caused by the issuance of debt (borrowing) decreases caused by principal payments increases caused by the issuance of debt (borrowing) decreases caused by principal payments decreases caused by the issuance of debt (borrowing) increases caused by principal payments mon shares: increases caused by the issuance of shares and/or share diyjdends decreases caused by the repurchase and/or cancellation of shares decreases caused by the issuance of shares and/or share dividends increases caused by the repurchase and/or cancellation of shares