prepare a statement of cash flows using the indirect method for the year ended December 31, Year 2

The following financial statements and additional information are reported. Additional Information a. A$30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New machinery is acquired for $69,600 cash. d. Received cash for the sale of machinery that had cost $60,600, yielding a $3,200 gain. e. Prepaid Expenses and Salaries Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Required: (1) Prepare a statement of cash flows using the indirect method for the year enc Note: Amounts deducted should be indicated with a minus sign. Cash flows from investing activities Cash flows from financing activities \begin{tabular}{|l|} \hline Cash flows from financing activities \\ \hline Net increase (decrease) in cash \\ \hline Cash balance at prior year-end \\ \hline Cash balance at current year-end \\ \hline \end{tabular} The following financial statements and additional information are reported. Additional Information a. A$30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New machinery is acquired for $69,600 cash. d. Received cash for the sale of machinery that had cost $60,600, yielding a $3,200 gain. e. Prepaid Expenses and Salaries Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Required: (1) Prepare a statement of cash flows using the indirect method for the year enc Note: Amounts deducted should be indicated with a minus sign. Cash flows from investing activities Cash flows from financing activities \begin{tabular}{|l|} \hline Cash flows from financing activities \\ \hline Net increase (decrease) in cash \\ \hline Cash balance at prior year-end \\ \hline Cash balance at current year-end \\ \hline \end{tabular}