The balance sheets for a company, along with additional Information are provided below. Balance Sheets December 31, 2021 and 2020 Assets 2021 2828 Current assets: Cash $ 144,850 $ 156,500 Accounts receivable 76,480 98,888 Inventory 91,000 76,400 Prepaid rent 3,200 1,600 Long-term assets: Land 460,000 468,888 Equipment 756,000 650,000 Accumulated depreciation (418,000) (260,000) Total assets $1,113,450 $1,174,588 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 95,000 $ 81,400 Interest payable 6,750 13,500 Income tax payable 7,280 4,600 Long-term liabilities: Notes payable 112,500 225,080 Stockholders' equity: Common stock 680,000 680,000 Retained earnings 212,000 170,000 Total liabilities and stockholders equity $1,113,450 $1,174,500 Additional Information for 2021: 1. Net income is $65.000 2. The company purchases $106,000 in equipment 3. Depreciation expense is $158,000. 4. The company repays $112,500 in notes payable. 5. The company declares and pays a cash dividend of $23,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts Next Help Save 3 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, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Book Hint Priest ferences Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities 3 Adjustments to reconcile net income to net cash flows from operating activities 10 points eBook Hint Net cash flows from operating activities Cash Flows from Investing Activities Print References 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 Mc Mayt