The comparative balance sheets and an income statement for Raceway Corporation follow. Balance Sheets As of December 31 Year: 2 Year 1 Assets Cash Accounts receivable $71,198 31,105 $38,200 22,810 Inventory Prepaid rent 158,783 174,660 2,460 4,920 Equipment 247,760 286,310 Accumulated depreciation (138,470) (231,230) Land 194,230 80,630 Total assets $567,066 $376,300 Liabilities Accounts payable (inventory) $69,081 78,360 Salaries payable 29,587 25,360 Stockholders' equity Common stock, $50 par value 246,000 198,000 Retained earnings 222,398 74,580 Total liabilities and equity $567,066 $376,300 Sales Income Statement For the Year Ended December 31, Year 2 Cost of goods sold $1,501,000 (797,732) Gross profit Operating expenses Depreciation expense Rent expense Salaries expense Other operating expenses Net income Other Information 1. Purchased land for $113,600. 2. Purchased new equipment for $96,100. 703,268 (20,390) (26,160) (250,800) (258,100) $147,818 3. Sold old equipment that cost $134,650 with accumulated depreciation of $113,150 for $21,500 cash 4. Issued common stock for $48,000. Required Prepare the statement of cash flows for Year 2 using the indirect method. (Cash outflows should be indicated w