Innovation Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Click the icon to view the data) Requirement Prepare a statement of cash flows for the past year using the indirect method. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow.) - Innovation Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: Data table S 6,000 Decrease in accounts payable S 9,000 9.000 Decrease in accounts receivable S S S 300 Decrease in inventory Retire bond payable (long term) Pald dividends in cash Decrease in inventory Decrease in accounts payable Sold land (investment) Increase in interest payable Cash balance, beginning of year Net income ...... $ 14,000 Decrease in accounts receivable. $ 29.000 Increase in salarles payable $ 7,000 Depreciation expense.. $ 9,000 Increase in prepaid insurance $ 26,000 Decrease in other short-term liabilities $ 500 Increase in taxes payable $ 90,000 Purchase of new computer system with cash $ 91,000 S 3,000 Decrease in other short-term liabilities S 4,000 14,000 S Depreciation expense Increase in accounts payable Increase in interest payable Print Done Increase in prepaid insurance Increase in salaries payable Increase in taxes payable elp Clear all Check answer Net income Innovation Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Click the icon to view the data.) Requirement Prepare a statement of cash flows for the past year using the indirect method. Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow.) Innovation Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: DEPICCICITUIT CAPEITSC Increase in accounts payable Increase in interest payable Increase in prepaid insurance Increase in salaries payable Increase in taxes payable Net income Payment of dividends Proceeds from sale of land Purchase of new computer system elp Clear all Retire bond payable