The following are the financial statements of Crane Company. CRANE COMPANY Balance Sheet December 31 Assets 2021 2020 Cash $28,880 $15,200 Accounts receivable 22,800 10,640 Inventory 20,520 15,200 Equipment 45,600 59,280 Accumulated depreciation-equipment (22,040) (18,240) Total $95.760 $82,080 Liabilities and Shareholders' Equity Accounts payable $18,240 $ 11,400 Income taxes payable 5,320 6,080 Liabilities and Shareholders' Equity. Accounts payable $18,240 $11,400 Income taxes payable 5,320 6,080 Notes payable 20,520 25,080 Common shares 13,680 10,640 Retained earnings 38,000 28,880 Total $95,760 $82,080 CRANE COMPANY Income Statement For the Year Ended December 31, 2021 Sales $183,920 Cost of goods sold 133,000 Gross profit 50,920 Operating expenses 18,240 Income from operations 32,680 Interest expense 2,280 Income before income taxes 30,400 Income tax expense 6,080 Profit $24,320 1 2. Dividends declared and paid were $15,200. Crane reports under ASPE. During the year, equipment was sold for $6,460 cash. This equipment cost $13,680 originally and had a carrying value of $6,460 at the time of sale. All depreciation expense, $11,020, is in the operating expenses. All sales and purchases are on account 3. 4 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signeg.-15,000 or in parenthesis eg (15,000))