QUESTION $25$

Part IV$.$ Prepare the following Statement of Cash Flows for Tomahawk Co$.$ using the indirect method. $(40$ points$)$

Equipment costing $$125,000$ was purchased for cash

Equipment costing $$85,000$ with accumulated depreciation of $$65,000$ was sold for $$15,000$

Depreciation Expense for the period was $$57,000$

The stock was issued for cash

The only entries in the retained earnings account were Net income of $$55,000$ and cash dividends declared of $$17,000.$

$\backslash$table$[[1,,$Year $2,$Year $1],[2,$Cash,$$100,000\mathrm{.}00,$$$78,000\mathrm{.}00$