The financial statements of Crane Ltd., a private company reporting under ASPE, follow: CRANE LTD. Balance Sheet December 31 Assets Cash Short-term notes receivable Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Income tax payable Notes payable Common shares Retained earnings Total liabilities and shareholders' equity 2021 $11,489 12,850 30,600 32,100 72,300 (32,600 ) $126,739 2020 $13,100 22,150 16,600 27,600 79,600 (27,100) $131,950 $27,600 4,300 15,800 24,800 54,239 $126,739 $43,800 20,300 10,800 24,800 32,250 $131,950 $282,900 193,300 89,600 CRANE LTD. Income Statement Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses $36,650 Loss on sale of equipment 2,650 Profit from operations Other revenues and expenses Interest revenue $(1,620) Interest expense 2,650 Profit before income tax Income tax expense Profit 39,300 50,300 1,030 49,270 15,981 $33,289 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 $12,850. Equipment was sold during the year. This equipment cost $18,100 originally and had a carrying amount of $10,450 at the 2. time of sale. 3. Equipment costing $10,800 was purchased in exchange for a $10,800 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 ether - signes -15,000 or in parenthesis eg (15,000).) CRANE LTD. Cash Flow Statement-Indirect Method $ Adjustments to reconcile profit to > $ > $ > $