Ithe cormparative dalance sheets and income statements for waiton company roliow 1. During Yeat 2, the comparty sold equipment for $1877; it had onginally cost $30,600 Accumulated depreciation on this equipment was $12.275 at the time of the sole. Also, the compony purchased equipment for $7,250cash. 2. The company sold land that had cont $4,470. This land was sold for $4,400, resulting in the recognition of a $70 loss. Also, common stock was issued in exchange for title to land that was valued or $11,100 at the time of exchange 3. Poid dividends of $8.542 Required Prepare a statement of cash flows using the indirect method Note: Amounts to be deducted and cash outflows should be indicated by a minus sign. WALTON COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline Less: Increase/Decrease in current assets and current liabilities: \\ \hline Increase in inventory & \\ \hline Plus. Noncash land & \\ \hline \end{tabular} Plus: Noncash charges - \begin{tabular}{|l|l|l|} \hline Increase in accounts receivable & & \\ \hline & & \\ \hline Net cash inflow from operating activities & & $ \\ \hline \end{tabular} Cash flows from investing activities