Presented here are the financial statements of Blue Spruce Company. Blue Spruce Company Comparative Balance Sheets December 31 2025 2024 Assets Cash $45,500 $ 26,000 Accounts receivable 26,000 18,200 Inventory 36,400 26,000 Property, plant, and equipment 78,000 101,400 Accumulated depreciation (41,600) (31,200) Total $144,300 $140,400 Liabilities and Stockholders' Equity Accounts payable $ 24,700 $ 19,500 Income taxes payable 9,100 10,400 Bonds payable 22,100 42,900 Common stock 23,400 18,200 Retained earnings 65,000 49,400 Total $144,300 $140,400 Blue Spruce Company Income Statement For the Year Ended December 31, 2025 Sales revenue $314,600 Cost of goods sold 227,500 Gross profit 87,100 Selling expenses $23,400 Administrative expenses 7,800 31,200 Income from operations 55,900 Interest expense 3,900 Income before income taxes 52,000 Income tax expense 10,400 Net income $41,600 Additional data: 1. Depreciation expense was $22,750. 2. Dividends declared and paid were $26,000. 3. During the year, equipment was sold for $11,050 cash. This equipment originally cost $23,400 and had accumulated depreciation of $12,350 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) BLUE SPRUCE COMPANY Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to $