Majestic Event Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Click the icon to view the data.) Requirement Prepare a statement of cash flows for the past year using the indirect method. Adjustments to reconcile net income to cash basis Decrease in inventory Decrease in accounts payable Increase in interest payable 8,000 (9,000) 500 Decrease in accounts receivable Increase in salaries payable Depreciation expense 11,000 5,000 16,000 Increase in prepaid insurance (100) Decrease in other short-term liabilities (5,000) Increase in taxes payable 4,000 30,400 Net cash provided by (used for) operating activities 113,400 Investing Activities: Net cash provided by (used for) investing activities