The following information is taken from French Corporation's financial statements Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents December 31 2018 2017 $ 75,920 $ 28,080 106,080 83,200 (4,680) (3,224) 161,200 182,000 7,800 7,072 104,000 62,400 300,560 253,760 (33,280) (13,520) 20,800 36,400 $738,400 $636,168 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings-appropriated Retained earnings-unappropriated Treasury stock, at cost $ 93,600 56,160 130,000 104,000 83,200 287,040 (15,600) $738,400 $ 87,360 65,520 62,400 104,000 10,400 314,808 (8,320) $636,168 For 2018 Year Net income Depreciation expense Amortization of patents Cash dividends declared and paid Gain or loss on sale of patents $76,232 19,760 5,200 31,200 none Prepare a statement of cash flows for French Corporation for the year 2018. (Use the indirect method.) or in parenthesis e.g. (15,000).) French Corporation Statement of Cash Flows For the Year Ended December 31, 2018 Increase Decrease) in Cash Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Patent Amortization Increase in Accounts Redelvable Decrease in Inventory Increase in Prepaid Expenses Increase in Accounts Payable Decrease in Accrued Liabilities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Land Purchase of Buildings Sale of Patents Net Cash Used by Investing Activities Cash Flows from Financing Activities Sale of Bonds Purchase of Treasury stock Payments of Cash Dividends Net Cash Provided by Financing Activities Net Increase in Cash Cash, January 1, 2018 Cash, December 31, 2018