Overbay Corporation had the following transactions. Sold land (cost $12,000) for $l6,000. Issued common stock for $25,000. Recorded depreciation of $20,000. Paid salaries of $12,000. Issued 1,000 shares of $1 par value common stock for equipment worth $12,000. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $2,000. Instructions For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows Assume the indirect method. Napoli Company reported net income of $155,000 for 2014. Napoli also reported depreciation expense of $25,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheet shows a decrease in accounts receivable of $10,000 for the year, a $12,000 increase in accounts payable, and a $4,000 decrease m prepaid expenses. Instructions Prepare the operating activities section of the statement cash flows for 2014. Use the indirect method