PARTV- STATEMENT OF CASH FLOWS -Indirect Method (20 Points) Traynham Company runs a retail company and recently completed its third year of operations. The balance sheet and income statement follow: Income Statement for 2014 2014 $52,000 $ 56,100 Sales revenue 2013 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation Total assets Liabilities and Equity Accounts payable Income taxes payable $337,40 203,00 4,30 87,000 24,300 Cost of goods sold 21,000 30,800 29,200 Depreciation expense 123,000 92,000 Other expenses -28.500-24.200 Income taxes $199.300 $179.400 Net income S 28,600 36,300 33,000 11,000 8,000 28,000 36,000 15,000 12,000 38,000 31,000 Long-term notes payable Common stock, $2 par Paid-in capital in excess of par Retained earnings Total liabilities and equity $199.300 $179.400 ditional Information on Year 2014 Transactions Purchased equipment by paying signing a long-term note for $8,000 and paying cash for the balance 1. 2. Paid cash as a payment on the long-term notes payable 3. Issued 100 shares of common stock for cash 4. Declared and paid cash dividends of $16,000 ions: Prepare a statement of cash flows for 2014 using the indirect method