The comparative balance sheets and income statements for Gypsy Company follow. 1. During Year 2 , the company sold equipment for $18,412; it had originally cost $28,600. Accumulated depreciation on this equipment was $10,788 at the time of the sale. Also, the company purchased equipment for $6,670 cash. 2. The company sold land that had cost $3,560. This land was sold for $3,500, resulting in the recognition of a $60 loss. Also, common stock was issued in exchange for title to land that was valued at $12,900 at the time of exchange. 3. Paid dividends of $9,940. Required Prepare a statement of cash flows using the indirect method. (Cash outflows should be indicated with a minus sign.) Cash flows from investing activities: Cash flows from financing activities: Ending cash balance Schedule of noncash investing and financing activities