The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018, and its statement of earnings for the year ended December 31, 2018, are presented below: MIKOS INC. Comparative Statements of Financial Position December 31 2018 2017 Assets Cash $ 10,900 $ 18,900 Short-term investments 77,300 44,700 Accounts receivable 77,500 33,600 Inventories, at cost 57,800 41,900 Prepaid expenses 5,900 9,800 Land 52,600 79,500 Property, plant, and equipment, net 287,600 188,500 Intangible assets 25,900 31,800 $ 595,500 $448,700 $ Liabilities and Shareholders' Equity Accounts payable Income tax payable Accrued liabilities Long-term notes payable Contributed capital Retained earnings 18,900 9,800 11,900 129,000 238,000 187,900 $ 43,800 2,900 -0- 188,000 69,500 144,500 $ 595,500 $448,700 $ 907,000 MIKOS INC. Statement of Earnings For the Year Ended December 31, 2018 Sales Cost of sales Amortization expenseintangible assets Depreciation expense-property, plant, and equipment Operating expenses Interest expense $ 449,000 5,900 34,900 240,000 13,900 743,700 Earnings before income taxes Income tax expense 163,300 48,990 Net earnings $ 114,310 Additional information is as follows: a. Land was sold for cash at its carrying amount. b. The short-term investments will mature in February 2019 i.e. these are cash equivalents). c. Cash dividends were declared and paid in 2018. d. New equipment with a cost of $167,900 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $19,500 were paid in cash, and notes of $39,500 were converted to shares. Required: 1. Prepare a statement of cash flows for Mikos Inc. for the year ended December 31, 2018 by using the indirect method. When dealing with depreciation and amortization expenses in the operating section), place them together as a single line item. (Negative answers should be indicated by a minus sign.) MIKOS INC. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net earnings to net cash provided by operating activities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow from financing activities Cash and short-term investments, beginning of year Cash and short-term investments, end of year