The current assets and liabilities sections of the comparative balance sheet of Sandhill Inc., a private company reporting under ASPE, at October 31 are presented below, along with the income statement: SANDHILL INC. Comparative Balance Sheet Accounts 2024 2023 Cash $120,780 $128,100 Accounts receivable 78,080 50,020 Inventory 39,650 56,120 Prepaid expenses 9,150 7,076 Accounts payable 52,460 43,920 Accrued expenses payable 6,100 9,760 Dividends payable 29,280 20,740 Income tax payable 8,296 14,396 SANDHILL INC. Income Statement Year Ended October 31, 2024 Sales $762,500 Cost of goods sold 475,800 Gross profit 286,700 Operating expenses $107,360 Depreciation expense 28,060 Loss on sale of equipment 9,760 145,180 Profit before income taxes 141,520 Income tax expense 35,380 Profit for the year $106,140 Prepare the operating activities section of the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) Type here to search E J' 13C Cloudy 4)) J SANDHILL INC. Cash Flow Statement (Partial)-Indirect Method Adjustments to reconcile profit to < S $ > > < < > H