prepare a statement of cash flows for the past year using the indirect method

Innovation Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31. (Click 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 sifn for numbers to be subtracted or for a net cash outflow) Innovation Corporation Statement of Cash Flows (Indirect Method)y For the Year Ended December 31 Operating Activities Adjustments to reconcile net income to cash basis Choose from any ist or enter any number in the input fields and then continue to the next question. ent of cash flows for the past vear. The company has gathered the followina information about the past vear just ended on Dece . X Data Table 1 Retire bond payable (long-term) $ 17,000 Decrease in accounts receivable 5,000 $ 29,000 Paid dividends in cash Increase in salaries payable.... $ 6,000 Decrease in inventory... Decrease in accounts payable.. 7,000 Depreciation expense.... $ $ 16,000 6,000 Increase in prepaid insurance $ 700 Sold land (investment) $ 21,000 Decrease in other short-term liabilities..... $ 1,000 Increase in interest payable. $ Increase in taxes payable 500 $ 4,000 Cash balance, beginning of year $ 86,000 Purchase of new computer system $ 11,000 Net income. $ 83,000 Print Done the input fields and then continue to the next