Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 45,000 Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory increase Net income Prepaid expenses increase 3,000 7,000 ,000 16,000 31,000 9,000 ,000 00,000 9,000 11,000 39,000 14,000 11,000 94,000 8,000