Statement of Cash Flows-Indirect Method The comparative balance sheet of Wedge Industries Inc. for December 31, 2014 and 2013, is as follows: Dec. 31, 2014 Dec. 31,2013 Assets 392 224 140 320 180 $128 160 Inventories . 360 140 24) $852 Equipment $1,208 Liabilities and Stockholders' Equity 140 24 80 200 $128 40 100 584 $852 Paid-in capital: Excess of issue price over par-common stock. Total $1,208 The following addtional information is taken from the records: 1, Land was sold for $100 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $260 credit to Retained Earnings for net income 6. There was an $80 debit to Retained Earnings for cash dividends declared Hide a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required