Required information P12-6 (Algo) (Supplement C) Preparing a Statement of Cash Flows, Indirect Method, Using the T-Account Approach [The following information applies to the questions displayed below.] Hanks Company is developing its annual financial statements at December 31 , current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Additional data: a. Bought fixed assets for cash, $8,000. b. Paid $6,100 on the long-term note payable. c. Sold unissued common stock for $14,800 cash. d. Declared and paid a $2,300 cash dividend. e. Incurred the following expenses: depreciation, $6,500; wages, $12,300; taxes, $2,300; and other, $11,900. P12-6 Part 2 2. Prepare the statement of cash flows. (List cash outflows as negative amounts.)