Prepare a statement of Cash flows for Calendar Year 20x3 in proper form using the Indirect Method.

Problem 1 Statement of Cash Flows - Indirect Method (20 points) Orca Inc. - Balance Sheet Data \begin{tabular}{|c|c|c|c|c|c|c|} \hline & \multicolumn{2}{|c|}{203} & \multicolumn{2}{|c|}{202} & \multicolumn{2}{|r|}{ Change } \\ \hline Cash & $ & 12,000 & $ & 5,000 & $ & 7,000 \\ \hline Accounts Receivable & & 39,000 & & 45,000 & & (6,000) \\ \hline Inventory & & 105,000 & & 94,000 & $ & 11,000 \\ \hline Long Term Investments & & 41,000 & & 18,000 & $ & 23,000 \\ \hline Equipment & & 175,000 & & 146,000 & $ & 29,000 \\ \hline Accumulated Depreciation & & (40,000) & & (26,000) & $ & (14,000) \\ \hline Total & $ & 332,000 & $ & 282,000 & $ & 50,000 \\ \hline Accounts Payable & & 70,000 & & 62,000 & $ & 8,000 \\ \hline Bonds Payable - Long term & & 72,000 & & 64,000 & $ & 8,000 \\ \hline Capital Stock & & 120,000 & & 120,000 & $ & - \\ \hline Retained Earnings & & 70,000 & & 36,000 & $ & 34,000 \\ \hline Total & $ & 332,000 & $ & 282,000 & $ & 50,000 \\ \hline \end{tabular} Additional Information: 1. Dividends of $9,000 were declared and paid in 203. 2. Net Income was $43,000 for 203. 3. No equipment was sold during the year. 4. Investments costing $15,000 were sold for $13,000 during 203. 5. Equipment was purchased for cash. 6. Additional bonds were issued for cash