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 $ 9,700 $ 17,700 Short-term investments 56,900 29,100 Accounts receivable 71,500 28,800 Inventories, at cost 55,400 40,700 Prepaid expenses 4,700 7.400 Land 47.800 73,500 Property, plant, and equipment, net 282,800 182,500 Intangible assets 24,700 29,400 $ 553,500 $ 409,100 Liabilities and Shareholders' Equity Accounts payable Income tax payable Accrued liabilities Long-term notes payable Contributed capital Retained earnings $ 17,700 $ 41,400 7,400 1,700 10.700 -0- 117,000 164,000 214,000 63,500 186,700 138,500 $ 553,500 $ 409,100 $ 871,000 MIKOS INC Statement of Earnings For the Year Ended December 31, 2018 Sales Cost of sales Amortization expense-intangible assets Depreciation expense-property, plant, and equipment Operating expenses Interest expense Earnings before income taxes Income tax expense Net earnings $ 437,000 4,700 33,700 228,000 12.700 716,100 154,900 46,470 $ 108,430 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 $166,700 was purchased for cash, and old equipment was sold at its c. Long-term notes of $13,500 were paid in cash, and notes of $33,500 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