Accounts recelvable (net) Inventories Investments Equipment Accumulated depreciation-equipment Total assets Accounts payable Bonds payable, due Year 4 Common stock, $10 par Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity \begin{tabular}{ll} (113,700) & (128,000) \\ \hline$622,800 & $553,500 \\ \hline \end{tabular} The income statement for Year 2 is as follows: Sales Cost of merchandise sold Gross profit \begin{tabular}{rr} $61,500 & $42,600 \\ 0 & 100,000 \\ 250,000 & 200,000 \\ 75,000 & 50,000 \\ 236,300 & 160,900 \\ \hline$622,800 & $553,500 \\ \hline \end{tabular} Operating expenses: Depreciation expense Other operating expenses Income from operations $24,700 Other revenue and expense: fain an rale af inuectment csinn Adaitional data for the current year are as follows: - Fully depreciated equipment costing $39,000 was scrapped, no salvage value, and equipment was purchased for $157,000. - Bonds payable for $100,000 were retired by payment at their face amount. - 5,000 shares of common stock were issued at $15 for cash. - Cash dividends declared and paid, \$28,000. - All sales are on account. Prepare a statement of cash ksows for the year ending December 31, Year 2, using the direct method of reporting cash flows frc to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Conniejo Company Statement of Cash Flows For the Year Ended December 31, Year 2 ConnieJo Company Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from (used for) operating activities: $