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A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Lomax Company Comparative Balance sheet Assets This Year Lant Year Current anseta Cash and cash equivalents 79,000 $ 56,400 Accounts receivable 606,000 630,000 Inventory 617,600 428,000 Prepaid expensen 16,400 9,000 Total current assets 1,319,000 1,123,400 Property, plant, and equipment 2,410,000 1,832,000 Less accumulated depreciation 624,600 567,200 Net property, plant, and equipment 1,785,400 1,264,800 Long-term investments 96, 800 154,000 Loans to subsidiaries 128,000 74,000 Total ansata $3,329,200 $2,616,200 Liabilities and stockholders' quity Current liabilities Accounts payable $ 882,800 $ 578,000 Accrued liabilities 29,800 49,200 Income taxes payable 143,400 124,400 Total current liabilities 1,056,000 751,600 Bonds payable 660,000 424,000 Total liabilities 1,716,000 1.175,600 Stockholders' equity: Common stock 1,106,000 1,008,000 Retained earnings 507,200 432,600 Total stockholders' equity 1,613,200 1.440.600 Total liabilities and stockholders' equity $3,329,200 $2,616,200 The following additional Information is available about the company's activities uuring this year: The following additional Information is available about the company's activitles during this year. a. The company declared and paid a cash dividend this year. b. Bonds with a principal balance of $388,000 were repaid during this year, c. Equipment was sold during this year for $74,000. The equipment had cost $146,000 and had $49,600 In accumulated depreciation on the date of sale. d. Long-term Investments were sold during the year for $126,000. These Investments had cost $57.200 when purchased several years ago. e. The subsidiaries did not repay any outstanding loans during the year, f. Lomax did not repurchase any of its own stock during the year. The company reported net income this year as follows: $3,160,000 1,959,200 1,200,800 972 400 228,400 Balen Cont of goods sold Crona margin selling and administrative expenses Net operating income Nonoperating Items Gain on sale of Investments Tons on anle of equipment Income before taxes Income taxon Net Income $ 68,000 22,400) 46,400 274,800 80,000 186,800 Required: Using the Indirect method, prepare a statement of cash flows for this year (List any deduction in cash outflows as negative amounts.) Required: Using the Indirect method, prepare a statement of cash flows for this year. (List any deduction in cash outflows as negative amounts.) Lomax Company Statement of Cash Flows Operating activities: 0 0 Investing activities: 0 0 Investing activities: Financing activities: 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0