Shim Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Shim's Year 2 and Year 1 year-end balance sheets The income statement reported a $1,750 gain on the sale of equipment, an $880 loss on the sale of land, and $3,800 of depreciation expense. Net income for the period was $54,186 Required Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with o minus sign.) Required Prepare the operating activities section of the statement of cash flows (Amounts to be deducted should be indicated with a minu sign.) The comparative balance sheets and income statements for Gypsy Company follow 1. During Year 2, the company sold equipment for $18,082, it had onginally cost $28,100. Accumulated depreciation on this equipment was $10,668 at the time of the sale. Also, the company purchased equipment for $7,410 cash. 2. The company sold land that had cost $4,660. This land was sold for $4,600, resulting in the recognition of a $60 loss. Also, common stock was issued in exchange for title to land that was valued at $11,800 at the time of exchange 3. Paid dividends of $10,270 Required Prepare a statement of cash flows using the indirect method. (Cash outflows should be indicated with a minus sign.)