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 Assets Cash Short-term investments Accounts receivable Inventories, at cost Prepaid expenses Land December 31 Property, plant, and equipment, net Intangible assets 2018 2017 $ 10,900 $18,900 77,300 44,700 33,600 77,500 57,800 41,900 5,900 9,800 52,600 79,500 188,500 287,600 Liabilities and Shareholders' Equity 25,900 31,800 $595,500 $448,700 43,800 Accounts payable $ 18,900 $ Income tax payable 9,800 2,900 Accrued liabilities 11,900 -0- 188,000 Long-term notes payable 129,000 69,500 Contributed capital 238,000 144,500 Retained earnings 187,900 448,700 $595,500 $ MIKOS INC. Statement of Earnings For the Year Ended December 31, 2018 907,000 Sales $ Cost of sales $449,000 Amortization expense-intangible assets Depreciation expense-property, plant, and 5,900 34,900 equipment Operating expenses 240,000 743,700 Interest expense 13,900 Earnings before income taxes 163,300 Income tax expense Net earnings 48,990 $ 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. 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. (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: $ 0 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 0 0 0 $ 0