Modica Corporation is preparing ts statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Chok the icon to view the data) Requirement Prepare a statement of cash flows for the past year using the indirect method Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow) Modica Corporation Operating Activities: Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Adjustments to reconcile net income to cash basis Net cash provided by (used for) operating activities Data table Retire bond payable (long-term) Paid dividends in cash $13,000 $ 33,000 Decrease in accounts receivable increase in salaries payable $ 10,0 $ Decrease in inventory $ 7,000 Depreciation expense. $ 150 Decrease in accounts payable $ 6.000 increase in prepaid insurance $ e Sold land (investment) Increase in interest payable. Cash balance, beginning of year Net income $ 19,000 Decrease in other short-term labites $ 50 $ 500 increase in taxes payable. 20 $ 88,000 Purchase of new computer system with cash 18A $ 84,000 Print Done Clear all Ch