The comparative balance sheets for Teal Company as of December 31 are as follows. 1. Operating expenses include depreciation expense of $50,400 ( $24,000 of depreciation expense for buildings and $26,400 for equipment). 2. Land was sold for cash at book value. 3. Cash dividends of $14,400 were declared and paid. 4. Net income for 2025 was $44,400. 5. Equipment was purchased for $110,400 cash. In addition, equipment costing $26,400 with a book value of $12,000 was sold for $9,600cash. 6. 48,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $48,000. Prepare a statement of cash flows for the year ended December 31, 2025, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000).) TEAL COMPANY Statement of Cash Flows - Indirect Method For the Year Ended December 31, 2025 ; Cash Flows from Operating Activities Net income Adjustments to reconcile net income to Net Cash Pronded by Oocrating Activities \& Deprecistan Expense Decrease in Accounts Paratile Decrease in Arcounts Receivable Drcreanin in inventory