Use the Vision Consulting Inc. financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method. Additional Information: a. Purchased machinery for $49,000 cash. b. Sold the long-term investment on January 1, 2014 for $62,000. c. Sold machinery for $16,000 cash that had originally cost $57,000 and had $46,500 of accumulated depreciation. d. Issued $26,000 of bonds payable at face value. e. The short-term investment is a treasury bill that was purchased with maturity in 90 days. (select one) Statement of Cash Flows (select one) Cash flows from operating activities Adjust to reconcile net income to cash provided by oper. act.: Vision Consulting Inc. Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 226,300 115,000 Short-term investments 98,000 90,000 Accounts receivable 151,300 90,000 Merchandise inventory 59,400 90,000 Long term investment 0 42,000 Machinery 272,000 280,000 Accumulated depreciation (153,500) (175,000) Total assets 653,500 532,000 Cash flows from investing activities Cash flows from financing activities Additional Information: a. Purchased machinery for $49,000 cash. b. Sold the long-term investment on January 1, 2014 for $62,000. c. Sold machinery for $16,000 cash that had originally cost $57,000 and had $46,500 of accumulated depreciation. d. Issued $26,000 of bonds payable at face value. e. The short-term investment is a treasury bill that was purchased with maturity in 90 days. (select one) Statement of Cash Flows (select one) Cash flows from operating activities Adjust, to reconcile net income to cash provided by oper. act.: Vision Consulting Inc. Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 226,300 115,000 Short-term investments 98,000 90,000 Accounts receivable 151,300 90,000 Merchandise inventory 59,400 90,000 Long term investment 0 42,000 Machinery 272,000 280,000 Accumulated depreciation (153,500) (175,000) Total assets 653,500 532.000 Cash flows from investing activities Cash flows from financing activities Liabilities and Equity Accounts payable Dividends payable Bonds payable 96,000 20,000 26,000 non non 66,000 42,000 0 Net increase (decrease) in cash Cash at beginning of year Cash at end of year, recer Cash flows from investing activities Merchandise inventory Long term investment Machinery Accumulated depreciation Total assets 59,400 90,000 0 42,000 272,000 280,000 (153,500) (175,000) 653,500 532,000 Cash flows from financing activities Liabilities and Equity Accounts payable Dividends payable Bonds payable Share capital Retained earnings Total liabilities and equity 96,000 20,000 26.000 309,000 202,500 653,500 66,000 42,000 0 309,000 115,000 532,000 Net increase (decrease) in cash Cash at beginning of year Cash at end of year 710,000 Vision Consulting Inc. Income Statement For Year Ended December 31, 2014 Sales Cost Of Goods Sold 580,000 Depreciation expense 25,000 Other expenses 43,000 Gain on sale of long-term investment Gain on sale of machinery Net income (648,000) 20,000 5,500 87,500