The comparative statements of financial position of Mikos Inc. as at December 31, 2020 and 2021 and its statement of earnings for the year ended December 31, 2021 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 Contributed capital Retained earnings 2021 2020 $ 10,900 $ 18,900 77,300 44,700 77,500 33,600 57,800 41,900 5,900 9,800 52,600 79,500 287,600 188,500 25,900 31,800 $595,500 $448,700 $ 18,900 $ 43,800 9,800 2,900 11,900 -0- 129,000 188,000 238,000 69,500 187,900 144,500 $595,500 $448,700 Sales Cost of sales MIKOS INC. Statement of Earnings For the Year Ended December 31, 2021 Amortization expense-intangible assets Depreciation expense-property, plant, and equipment Operating expenses Interest expense Earnings before income taxes Income tax expense Net earnings $907,000 $449,000 5,900 34,900 240,000 13,900 743,700 163,300 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 2022 c. Cash dividends were declared and paid in 2021. 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, 2021 by using the Indirect method. (Negative answers should be indicated by a minus sign.) Cash flows from operating activities: Net earnings MIKOS INC. Statement of Cash Flows For the Year Ended December 31, 2021 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization expense $ 40,800 40,800 Increase in accounts receivable Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: S 81,600 0 Net cash flow from financing activities 0 81,600 Cash and short-term investments, beginning of year Cash and short-term investments, end of year S 81,600