Instructions 1. The investments were sold for $280,000 cash. 2. Equipment and land were acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $199,540 credit to Retained Earnings for Net Income. 6. There was a $96,000 debit to Retained Earnings for Dividends Declared. Prepare a statement of cash flows using the indirect method. CROMMER INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Increase in cash Cash at the beginning of the year Cash at the end of the year