Statement of Cash Flows Problem Consider the following information in preparing a statement of cash flows for Huntsman Corp: Beginning cash balance Net income Depreciation expense Increase in accounts receivable Decrease in inventory Decrease in prepaid expenses Decrease in accounts payable Increase in accrued liabilities Decrease in income taxes payable $16,000 $40,000 $24,000 $17,000 $8,000 $4,000 $20,000 $6,000 $3,000 During the year, Huntsman also had the following transactions: 1. Made a $25,000 loan to Eccles Company. 2. Sold a piece of equipment with a cost of $30,000 and an accumulated depreciation of $20,000, for $15,000 cash. 3. Had additional purchases of plant and equipment of $80,000. 4. Issued bonds payable for $50,000. 5. Issued common stock for $24,000. 6. Paid a cash dividend of $9,000. Required: Using the indirect method to determine the cash flows from operating activities, prepare a statement of cash flows for the year