The comparative statements of financial position of Mikos Inc. as of December 31, 2023 and 2024 and its statement of earnings for the year ended December 31, 2024 are presented below: MIKOS INC. Comparative Statements of Financial Position December 31 Assets Cash Short-term investments Accounts receivable Inventories, at cost Prepaid expenses Land Property, plant, and equipment, net Intangible assets Liabilities and Shareholders' Equity Accounts payable Income tax payable Accrued liabilities Long-term notes payable Share capital Retained earnings 2024 2023 $ 9,300 $ 17,300 50,100 23,900 69,500 27,200 54,600 40,300 4,300 6,600 46,200 71,500 281,200 180,500 24,300 28,600 $539,500 $395,900 $ 17,300 $ 40,600 6,600 10,300 1,300 -0- 113,000 156,000 206,000 61,500 186,300 136,500 $539,500 $395,900 Sales Cost of sales MIKOS INC. Statement of Earnings For the Year Ended December 31, 2024 Operating expenses Amortization expense-intangible assets Depreciation expense-property, plant, and equipment Interest expense Earnings before income taxes Income tax expense Net earnings $859,000 $433,000 224,000 4,300 33,300 12,300 706,900 152,100 45,630 $106,470 Additional Information is as follows: a. Land was sold for cash at its carrying amount. b. Mikos sells its short-term investments within three months of purchasing them. c. Cash dividends were declared and paid in 2024. d. New equipment with a cost of $166,300 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $11,500 were paid in cash, and notes of $31,500 were converted to shares. Required: 1. Prepare a statement of cash flows for Mikos Inc. for the year ended December 31, 2024 by using the indirect method. (Negative answers should be Indicated by a minus sign.) MIKOS INC. Statement of Cash Flows For the Year Ended December 31, 2024 Cash flows from operating activities: Adjustments to reconcile net earnings to net cash provided by operating activities: Net cash flows from operating activities Cash flows from investing activities: Net cash flows used for investing activities Cash flows from financing activities: Net cash flows from financing activities Cash and short-term investments, beginning of year Cash and short-term investments, end of year