The 2021 and 2020 balance sheets of Whitney Corporation follow. The 2021 income statement is also provided. Whitney had no noncash investing and financing transactions during 2021. During the year, the company sold equipment for $15,700, which had originally cost $13,200 and had a book value of $11,200. The company did not issue any notes payable during the year but did issue common stock for $24,000. The company purchased plant assets and long-term investments with cash. Click the icon to view the income statement.) Requirements (Click the icon to view the balance sheets) 1. Prepare the statement of cash flows for Whitney Corporation for 2021 using the indirect method. 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. Requirement 1. Prepare the statement of cash flows for Whitney Corporation for 2021 using the indirect method Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow) Operating Activities: Whitney Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2021 Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities The 2021 and 2020 balance sheets of Whitney Corporation follow. The 2021 income statement is also provided. Whitney had no noncash investing and financing transactions during 2021. During the year, the company sold equipment for $15,700, which had originally cost $13,200 and had a book value of $11,200. The company did not issue any notes payable during the year but did issue common stock for $24,000. The company purchased plant assets and long-term investments with cash. Click the icon to view the income statement.) Requirements (Click the icon to view the balance sheets) 1. Prepare the statement of cash flows for Whitney Corporation for 2021 using the indirect method. 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. Requirement 1. Prepare the statement of cash flows for Whitney Corporation for 2021 using the indirect method Prepare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow) Operating Activities: Whitney Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2021 Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities