Jason Allen and Sarah Young are examining the following summary of cash flows for Blossom Company for the year ended January 31. 2027. Inflows Sales revenue $382,810 Capital stock sales 405,410 Sale of investment (purchased below) 79,650 Proceeds from note (to purchase truck below) 20,150 Interest received on investments 5,983 Total 894,003 Outflows Purchase of fixtures and equipment 320,900 Cost of merchandise purchased for resale 258,122 Payment of operating expenses 171,280 Purchase of investment 75,480 Purchase of truck with note proceeds (shown above) 20,150 Purchase of treasury stock 9,960 Payment of interest on note payable 3,015 Total Net increase in cash 858,907 $35,096 Jason claims that this statement shows that Blossom had a superb first year, with cash increasing $35,096. Sarah replies that it was not a superb first year. Rather, she says, the year was an operating failure and that $35,096 is not the actual increase in cash. The cash balance at the beginning of the year was $139,370. (a) Your answer is correct. Using the data provided, determine the net income/(loss) for the year ended January 31, 2027. Depreciation expense was $54,840. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net income/(loss) $ -94294 eTextbook and Media Attempts: 1 of 3 used Adjustments to reconcile net income to 10 $ $ OF $ (b) Using the data provided, prepare a statement of cash flows in proper form using the indirect method. The only noncash items in the income statement are depreciation and the gain from the sale of the investment. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parentheses e.g. (15,000).) BLOSSOM COMPANY Statement of Cash Flows