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Suppose the income statement for Goggle Company reports $131 of net income, after deducting depreciation of $26. The company bought equipment costing $105 and obtained a long-term bank loan for $106. The company's comparative balance sheet, at December 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease) 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, Investing, and/or financing activities (+ for increase and - for decrease) (Select "NE" if there is no effect. Enter all amounts as positive values.) Change Type Previous Year Current Year 44 303 84 193 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Equipment 305 545 144 650 (62) (36) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, Investing, and/or financing activities (+ for increase and - for decrease). (Select "NE" If there is no effect. Enter all amounts as positive values.) Previous Year Current Year Change Type Cash 44 303 Accounts Receivable 84 193 Inventory 305 144 Equipment 545 650 Accumulated Depreciation-Equipment (36) (62) Total $ 942 $ 1.228 Salaries and Wages Payable $ 19 $ 68 Notes Payable (long-term) 454 560 Common Stock 19 19 Retained Earnings 450 581 Total $ 942 $ 1,228 Required 1 Required 2 Required 6 Prepare a statement of cash flows using the Indirect method. (Amounts to be deducted should be indicated with a sign.) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Changes in Current Assets and Current Liabilities 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Changes in Current Assets and Current Liabilities 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: 0 $ 0