*Problem 13-9A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 Assets Cash Accounts recelvable Inventony Prepaid expenses Investments Equipment Accumulated 2015 $89,240 91,220 112,630 28,040 137,170 270,690 2014 $48,300 32,750 101,850 25,990 113,960 241,220 depreciation-equipment(50,040) (52,510) $678,950 Total $511,560 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $111,510 16,200 117,430 220,410 213,400 $678,950 $67,480 17,240 149,220 175,560 102,060 $511,560 Total CHENG INC. Income Statement For the Year Ended December 31, 2015 Sales Less $391,070 135,360 11,960 44,460 27,280 4,480 6,520 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense 230,060 Loss on disposal of plant asstets Net income $161,010 Additional information: 1. New Equipment costing $84,090 were purchased for cash during the year. 2. Old Equipment having an original cost of $54,620 was sold for $1,170 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $49,670 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2015 Adjustments to reconcile net income to