The financial statements of Crane Ltd., a private company reporting under ASPE, follow: CRANE LTD. Balance Sheet December 31 Assets 2021 2020 Cash $7,956 $10,900 Short-term notes receivable 12,300 21,600 Accounts receivable 28,400 14,400 Inventory 29,900 25,400 Property, plant, and equipment 71,200 77,400 Accumulated depreciation (30,400 ) (24,900 ) Total assets $119,356 $124,800 Liabilities and Shareholders Equity Accounts payable $25,400 $42,700 Income tax payable 3,200 19,200 Notes payable 12,700 9,700 Common shares 23,700 23,700 Retained earnings 54,356 29,500 Total liabilities and shareholders equity $119,356 $124,800 CRANE LTD. Income Statement Year Ended December 31, 2021 Sales $281,400 Cost of goods sold 192,200 Gross profit 89,200 Operating expenses $36,100 Loss on sale of equipment 2,100 38,200 Profit from operations 51,000 Other revenues and expenses Interest revenue $(1,180 ) Interest expense 2,100 920 Profit before income tax 50,080 Income tax expense 15,024 Profit $35,056 Additional information: 1. Short-term notes receivable are loans to other companies. During the year, the company collected the outstanding balance at December 31, 2020, and made new loans in the amount of $12,300. 2. Equipment was sold during the year. This equipment cost $15,900 originally and had a carrying amount of $8,800 at the time of sale. 3. Equipment costing $9,700 was purchased in exchange for a $9,700 note payable. 4. Depreciation expense is included in operating expenses. 5. Accounts receivable are from the sale of merchandise on credit. 6. Accounts payable relate to the purchase of merchandise on credit. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) CRANE LTD. Cash Flow StatementIndirect Method $ Adjustments to reconcile profit to $ $ $ $ Note: Equipment costing $____ was purchased by issuing a note payable