K McKnight Media Corporation had the following income statement and balance sheet for 2024: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) During the year McKnight issued a $4,900 note payable. McKnight acquired equipment worth $21,000, and made payments on the long-term notes payable in the amount of $6,900 during the year. Assume the company paid cash for the acquisition of plant assets. Prepare McKnight Media's statement of cash flows-indirect method-for the year ended December 31, 2024 Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If apox is not used in the statement, leave the box empty; do not select a label or enter a zero.) McKnight Media Corporation Statement of Cash Flows Year Ended December 31, 2024 1 Cash Flows from Operating Activities: Etext pages Get more help- o Clear all Check answer $22,000 e 86F 1203 PM 21/23/9022 Data table McKnight Media Corporation Income Statement Year Ended December 31, 2024 Sales Revenue $ 84,000 Depreciation Expense-Plant Assets 10,000 Other Expenses 54,000 Net Income $ 20,000 Print Done es Get more help- *- +* F5 F6 95 T 6 C $22,000) e F7 FB F9 F10 F11 7 & 20 * ( ) 8 9 0 Y U 0 ata table McKnight Media Corporation Comparative Balance Sheet December 31, 2024 and 2023 Assets 2024 2023 Current Assets: Cash $ 5,100 $ 4,500 Accounts Receivable 8,100 6.100 Long-term Assets: Plants Assets 102,350 81,350 Accumulated Depreciation-Plant Assets O (23,350) (13,350) Print Done *- *+ F5 FO % 95 T 1 PT 96 e 72 $22,000 02 * F9 F10 F11 & 29 ( 7 8 9 0 Y U Data table Lung-18A55. Plants Assets Accumulated Depreciation-Plant Assets Total Assets Liabilities Current Liabilities: Accounts Payable Long-term Liabilities: Notes Payable *+ FO 102,350 81,350 (23,350) (13,350) $ 92,200 $ 78,600 S 8,500 $ 5,000 Print Done 11,000 13,000 10 500 18 000 $22,000 x PT FB FO F10 F11 F12 % 25 96 &7 * 8 R T Y U F G H 9 V B N M O 0 K L V Total Liabilities 19,500 18,000 Stockholders' Equity Common Stock, no par 28,000 24,000 Retained Earnings 700 36,600 rating activities (Use a minus in the statement, leave the 72,700 60,600 Total Stockholders' Equity $ 92,200 $ 78,600 Total Liabilities and Stockholders' Equity ve this E O Print Done Check answer $22,000 e 12:04 PM 86F 7400