The management team of Wickersham Brothers Inc, is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized. Current Year Pelon Year $116,700 144,000 100,000 206,000 59.840 5514,860 $134.400 126,000 112.000 108,000 21.000) $454,400 Balance Sheet Assets Cash Accounts receivable Merchandise inventory Property and equipment Last Accumulated depreciation Total assets Liabilities: Accounts payable Salaries and Wages Payable Notes payable, long-term Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity Income statement Sales Cost of goods sold Depreciation expense Other expenses Net income $ 18,000 3.600 90,000 $ 21,600 1,800 108,000 144.000 179.000 $450,400 164.000 239,260 $514,860 $520,000 270,000 28,849 130.000 $ 93,160 Other information from the company's records includes the following: Bought equipment for cash, $98,000 Paid $18,000 on long-term note payable. Issued new shares of common stock for $20,000 cash. Cash dividends of $30,900 were declared and paid to stockholders, Accounts Payable arose from inventory purchases on credit Income tax expense ($22.790) and Interest expense (55,400) were paid in full at the end of both years and are included in Other Expenses Required: a. Prepare the statement of cash flows using the Indirect method. Include any supplemental disclosures. (Enter any deductions and cash outflows as a negative value.) WICKERSHAM BROTHERS Inc. Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and current liabilites: Cash Flows from Investing Activities: Cash Flows from Financing Activities: Cash and Cash Equivalents, beginning of period Cash and Cash Equivalents, ond of period Supplemental Disclosures