The comparative balance sheet of Posner Company for Years 1 and 2 ended December 31 appears in condensed form as follows: The income statement for the current year is as follows: Additional data for the current year are as follows: - Fully depreciated equipenent costing 160,000 was scrapped, no salvage, and new equipment was purchased for 1183,200 . - Honds payable for $100,000 were retired by payment at their face amount. - 5,000 shares of common stock were infued at 113 for cash. - Cash dividends declared and pald, 525,000 . Prepare a stotement of cash flows, ising the indirect method of reporting cash flows from (used for) operating activities. Use the m-nus sign to indicate cash out flows, cesh payments, decreates in casb, or any negative adjustments. Posner Company Posner Company Statement of Cash Flows For the Year Ended December 31, Year 2 Line Item Description Amount Amount Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash fows from operating activities Cash flows from (used for) investing activities: Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows used for financing activities Cash balance, January 1 , Year 2 Cast balance, December 31, Year 2