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 1 Required: 1. Prepare statement of cash flows T-accounts using the indirect method to report cash flows from operating activities. (Enter all amounts as positive values.)