The following is a list of items found on a company's statement of cash flows for the year ended December 31. The company uses the indirect method to reconcile net income to net cash flows from operating activities. Cash paid for acquisition of equipment $4,000 Cash paid for dividends 880 Cash payment on note payable 2,000 Decrease in accounts receivable 800 Depreciation expense 1.600 Increase in salaries payable 960 If the company reported net income of $5,120 and a January 1 cash balance of $3,200, prepare the company's statement of cash flows. Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities Adjustments Decrease in accounts receivable Increase in salaries payable Cash flows from investing activities Cash flows from financing activities Payment on note payable Net increase in cash and cash equivalents Check 0 O S