The comparative balance sheets and an income statement for Raceway Corporation follow. 1. Purchased land for $112,400. 2. Purchased new equipment for $103,700 3. Sold old equipment that cost $131,960 with accumulated depreciation of $112,960 for $19,000 cash. 4. Issued common stock for $49,000. Required Prepare the statement of cash flows for Year 2 using the indirect method. (Cosh outflows should be indicated with a minus si