McKnight Media Corporation had the following income statement and balance Data table - X Data table McKnight Media Corporation Income Statement McKnight Media Corporation Comparative Balance Sheet December 31, 2024 and 2023 Assets 2024 2023 Year Ended December 31, 2024 Current Assets Sales Revenue S 82,000 Cash S 4,600 $ 3,800 Depreciation Expense-Plant Assets 6,100 Accounts Receivable 8,100 7.100 51,000 Other Expenses Long-term Assets $ 24,900 Net Income Plants Assets 101.350 89.250 Accumulated Depreciation-Plant Assets (30.350) (24.250) $ 83,700 $ 75,900 Total Assets Print Done Liabilities McKnight Media Corporation had the following income statement and balance Data table Data table - X Total Assets McKnight Media Corporation: Liabilities Income Statement Current Liabilities: Year Ended December 31, 2024 Accounts Payable 9,000 $ 6.000 Sales Revenue S 82.000 Long-term Liabilities: Depreciation Expense-Plant Assets 6,100 12.000 16.000 Notes Payable 51,000 Other Expenses Total Liabilities 21.000 22.000 $ 24,900 Stockholders' Equity Net Income Common Stock, no par 26,000 22,000 Retained Earnings 36.700 31,900 Print Done Total Stockholders' Equity 62,700 53.900 $ 83,700 5 75,900 Total Liabilities and Stockholders' Equity D 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 $4,600 note payable. McKnight acquired equipment worth $12,100, and made payments on the long-term notes payable in the amount of $8,600 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 a box 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 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net income to Net Cash Provided by Operating Activities