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Wildhorse Shoes' comparative balance sheet is presented below. Wildhorse reports under ASPE. WILDHORSE SHOES Balance Sheet December 31 Assets 2021 2020 Cash $33,276 $20,886 Accounts receivable 28,556 26,314 Long-term investments 27,140 18,880 Equipment 70,800 82,600 Accumulated depreciation-equipment (16,520) (11,800) Total $143.252 $136,880 (16,520) (11,800) $143,252 $136,880 Accumulated depreciation equipment Total Liabilities and Shareholders' Equity Accounts payable Notes payable Common shares Retained earnings Total $23,128 $13,098 11,800 35,400 70,800 53,100 37,524 35,282 $143,252 $136,880 1 Additional Information: Profit was $33,394. Dividends declared and paid were $31,152. Equipment that cost $11,800 and had accumulated depreciation of $1,416 was sold for $5,074 All other changes in non-current account balances had a direct effect on cash flows, except the change in accumulated 3. depreciation 2 Prepare a statement of cash flows for 2021 using the indirect method. (Show amounts that decrease cash flow with either a - sign eg. - 15,000 or in parenthesis es (15,000).) WILDHORSE SHOES Cash Flow Statement - Indirect Method Year Ended December 31, 2021 Net Cash Provided by Operating Activities Pront Adjustments to reconcile profit to Net Cash Provided by Operating Activities Profit Adjustments to reconcile profit to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal Increase in Accounts Payable Increase in Accounts Receivable Net Cash Provided by Operating Activities Net Cash Used by Investine Activities Net Cash Provided by Operating Activities Net Cash Used by Investing Activities Sale of Equipment Purchase of Investments Net Cash Used by investing Activities Financing Activities Dividends Paid Repayments of Notes Payable Issuance of Common Shares Net Cash Used by Financing Activities Issuance of Common Shares Net Cash Used by Financing Activities Net Increase in Cash 9870 Cash, Jan 16638 Cash Dec. 31 16638 e Textbook and Media Save for Later Attempts: 2 of 5 used Submit Answer b (b) The parts of this question must be completed in order. This part will be available when you complete the part above