The income statement and comparative balance sheets for Vasquez Inc. are shown below. The statement of retained earnings (not shown) indicates that Vasquez paid $136,500 in cash dividends during the year. The company uses the indirect method for preparing the statement of cash flows. Use the information provided in these financial statements to construct Vasquez's statement of cash flows. Complete the statement by entering the appropriate value. Note: Be sure to enter a negative sign for those values that represent a cash outflow. It is not necessary to enter a positive sign for a cash flow representing an inflow. Vasquez Inc. Income Statement For the Year Ending December 31, Year 2 $2,275,000 1,376,375 $898,625 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense $40,131 Other operating expenses 323,869 Total operating expenses Operating profit (EBIT) Interest expense 193,375 Earnings before taxes Taxes 113,750 Net income 364,000 $534,625 $341,250 $227,500 Vasquez Inc. Balance Sheet As of December 31, Year 2 Year 2 Year 1 Increase Decrease $34,710 11,700 25,090 46,631 40,131 $78,000 Assets Cash $61,360 $26,650 Accounts receivable (net) 84,500 72,800 Inventories 218,140 193,050 Property & equipment 447,941 401,310 Accumulated depreciation 83,941 43,810 Total assets $728,000 $650,000 Liabilities Accounts payable $94,640 $58,500 Accrued wages payable 29,120 24,375 Accrued taxes payable 23,660 13,000 Bonds outstanding 107,380 164,125 Total liabilities $254,800 $260,000 Stockholders' Equity Common stock $71,825 $79,625 Retained earnings 401,375 310,375 Total stockholders' equity $473,200 $390,000 Total liabilities and equity $728,000 $650,000 $36,140 4,745 10,660 -56,745 $-5,200 $-7,800 91,000 $83,200 $78,000 Vasquez Inc. Statement of Cash Flows For the Year Ended December 31, Year 2 $ -11,700 10,660 $ Cash flows from operating activities: Net income Adjustments: Depreciation Changes in current operating assets and liabilities: in accounts receivable in inventory in accounts payable in accrued wages payable in accrued taxes payable Net cash flow from operating activities Cash flows from investing activities: Cash from the of property & equipment Net cash flow from investing activities Cash flows from financing activities: Cash associated with common stock Cash associated with outstanding bonds Cash from the of dividends Net cash flow from financing activities Change in cash Cash at the beginning of the year Cash at the end of the year -$46,631 $ -56,745 $ 26,650 $