Suppose the income statement for Goggle Company reports $151 of net income, after deducting depreciation of $21. The company bought equipment costing $130 and obtained a long-term bank loan for $136. The company's comparative balance sheet, at December 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and - for decrease). 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and - for decrease). (Select "NE" if there is no effect. Enter all amounts as positive values.) Cash Accounts Receivable + Change Type + 299 Cash 114 Operating 181 Operating 130 Investing + 21 Operating -- + Inventory Equipment Accumulated Depreciation Equipment Total JE Previous Year Current Year $ 49 $ 348 89 203 330 149 570 700 (31) (52) $ 1,007 $ 1,348 $ 24 $ 78 459 595 24 24 500 651 $ 1,007 $ 1,348 + 54 Operating 136 (Financing + Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings NE + 151 Operating Total Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation $ $ 151 21 Changes in Current Assets and Current Liabilities Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable OOO (114) 181 54 * 293 Net Cash Used in Operating Activities Cash Flows from Investing Activities: Equipment Purchased (130) x (130) Net Cash Provided by Investing Activities Cash Flows from Financing Activities: Increase in Accounts Receivable X 136 136 299 Net Increase in Cash Cash, Beginning of Current Year Cash, End of Current Year OOO 49 348 S