The balance sheets for a company, along with additional information, are provided below: Balance Sheets December 31, Year 2 and Year 1 Year 2 Year 1 $ $ 151,300 75,600 89,000 2,800 166,800 89,000 74,600 1,400 590 450,000 744,000 (412,000). $1,100,700 450,000 640,000 (256,000) $1,165,800 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 93,000 6,900 6,800 79,600 13,800 4,400 115,000 230,000 670,000 209,000 $1,100,700 670,000 168,000 $1,165,800 Additional Information for Year 2: 1. Net income is $63,000. 2. The company purchases $104,000 in equipment. 3. Depreciation expense is $156,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $22,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Statement of Cash Flows For the Year Ended December 31, Year 2 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period