Suppose the income statement for Goggle Company reports $70 of net income, after deducting depreciation of $35. The company bought equipment costing $60 and obtained a long-term bank loan for $60. The company's comparative balance sheet, at December 31, indicates the following: points Required: 1. Calculate the change in each balance sheet account, and indicate whether each account relates to operating, Investing, and/or financing activities. (Decreases should be indicated with minus sign.) Skipped eBook Previous Year Current Year Change Type Cash Print $ 35 75 References 260 500 205 175 135 560 (80) 995 50 Accounts Receivable Inventory Equipment Accumulated Depreciation Total Wages Payable Long-Term Debt Contributed Capital Retained Earnings Total 825 445 10 360 825 430 995 $ $ 2. Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with minus sign GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash flows provided by operating activities points Skipped Adjustments to reconcile net income to cash provided by operating activities Book Changes in current assets and current liabilities Print References Cash flows used in investing activities Cash flows provided by financing activities Net change in cash Cash, beginning of year 6. Are the cash flows typical of a start-up, a healthy, or a troubled company? Healthy Troubled