The following are the comparative balance sheet of ABC Company for Year 1 and Year 2 and the income statement for year ended December 31, year 2: ABC company Comparative Balance Sheet December 31, Year 2 and Year 1 TEO TEO ( Cash Receivables Inventory Prepaid expense Plant assets Accumulated depreciation Intangible assets Total assets 75,000 51,000 48,000 39,000 54,000 60,000 6,000 9,000 440,000 350,000 (145,000) (125,000) 51,000 58,000 $529,000 $442,000 Accounts payable 51,000 56,000 Accrued expense 18,000 14,000 Long term notes payable 30,000 0 Mortgage payable 0 150,000 Preferred stock 175,000 0 Common stock 200,000 200,000 Retained earnings 55,000 22,000 Total liabilities and equity $529,000 $442,000 ABC company Income Statement For Year Ended December 31, Year 2 Sales 5660,000 Cost of sales (363,000) Gross profit 297,000 Operating expenses (183,000) Depreciation (35,000) Gain on sale of assets 5000 Net Income 84,000 2. 1. The company purchased a truck during the year at a cost of $30,000 that was financed in full by the manufacturer. A truck with a cost of $10,000 and a net book value of $2,000 were sold during the year for $7,000. There were no other sales of depreciable assets. 3. Dividends paid during Year 2 are $51,000 Assets costing $30,000 were purchased during year 2 and were financed in whole by the manufacture. Instruction: Prepare the statement of cash flows using the Indirect Method. 4