*Problem 13-9A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 2015 2014 $47,610 33,650 102,380 25,760 113,540 242,300 sets Cash Accounts receivable $90,780 92,590 111,700 28,970 Prepaid expenses Investments Equipment Accumulated depreciation-equipment 137,220 270,040 (50,700) (51,320 $680,600 $513,920 Total Liabilities and Stockholders' Equit Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 111,370 67,700 17,250 113,270 149,280 174,740 104,950 $513,920 16,300 219,720 219,940 $680,600 Total CHENG INC. Income Statement For the Year Ended December 31, 2015 Sales Less S392,360 Cost of goods sold 135,030 12,170 48,810 26,890 4,770 Depreciation expense Income tax expense Interest expense Loss on disposal of plant asstets Net income 6,620 234,290 $158,070 Additional information: 1. New Equipment costing $85,140 were purchased for cash during the year. 2. Old Equipment having an original cost of $57,400 was sold for $1,350 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $43,080 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cas CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2015 Adjustments to reconcile net income to