Ludwig Inc. began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Ludwig Inc. and its activities during 2015 follow in (a) through (e) a. Assume all accounts have normal balances. b. Equipment was sold for cash of $32,300. c. Old machinery was sold for cash of $22,100. New machinery was purchased for $27,000 cash. d. Share capital was issued for cash. e. Cash dividends were declared and paid. Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2015. (select one) Statement of Cash Flows (select one) Ludwig Inc. Adjusted Trial Balance December 31 Account 2015 2014 Accounts Payable. 50,940 62,000 Accounts Receivable, 70,100 82,750 Accumulated Depreciation, Equipment 6,800 54,500 Accumulated Depreciation, Machinery. 5,500 70,500 Allowance for Doubtful Accounts. 8,100 10,750 Depreciation Expense, Equipment. 7,700 7,700 Depreciation Expense, Machinery. 7,300 7,300 Cash 289,770 255,000 Cash Dividends 52,000 52,000 Equipment 45,600 136,000 Machinery. 39,700 106,000 Merchandise Inventory. 78.640 86,000 Long-term Notes Payable 61,450 74,000 Other Expenses (including losses) 610,000 35,000 Retained earnings 77,000 71.000 Revenues (including gains). 647,000 108,000 Share capital 314,000 279,000 Unearned Revenue 30,020 38,000