The following are comparative balance sheets for Sandhill Company. Assets Cash Accounts receivable Inventory Land Sandhill Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 2025 $163.200 211,200 400.800 192.000 624.000 (158,400) $ 93,600 360.000 518.400 2024 460.800 $52,800 182,400 453.600 $1,432,800 $1.332.000 240.000 480,000 (76.800) $ 103.200 480.000 417,600 331.200

The following are comparative balance sheets for Sandhill Company. Additional information: 1. Net income for 2025 was $223,200. 2 Depreciation expensewas $81,600. 3. Cash dividends of $93,600 were declared and paid. 4. Bonds payable with a carrying value of $120,000 were redeemed for $120,000 cash. 5. Commonstock was issued at par for $100,800cash 6. No equipment was sold during 2025. 7. Land was sold for its book value. Prepare a statement of cashiflows for 2025 using theindirect method. (Show amounts that decrease cash flow with either a-sign es: 45,000, or in parenthesis es (45,000)) Prepare a statement of cash flows for 2025 using the indirect method. (Show amounts that decrease cash flow with elther a-slgnes. 45,000, or in parenthesis es (45,000))