Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below] Lansing Company's current-yeat income statement and selected balance sheet data at December 31 of the current and prior years follow Required: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year (Amounts to be deducted should be indicated with a minus sign.) Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below] Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory Net Ificome 1110,57510,0,0 Additional Informetion on Current Year Transactions a. The loss on the cach sale of equipment was $16,125 (details in th) b. Sold equipment-costing $79,875 with accumilated depteciation of $4125, for $22,625 cash. c. Purchased equipment costing $107,375 by paying 452.000 east and signing a longterm notes payable for the balance- d. Paid $50,525 cash to reduce the longterm notes payable -. 15suecd 3,600 snares of common stock for $20 cash per share. 1. Dectared and pald casi glydends of 552,300 Problem 12-3A (Algo) Indirect: Statement of cash flows LO A1, P2, P3 Required: 1. Prepare a complete satement of cash flows using the indirect method for the current year. (Amounts to be deducted should be in dicated with a minus sign.) Requlred information \begin{tabular}{|l|l|l|l|} \hline & & & \end{tabular} Cash received from issuing stock Cash received from sale of equipment Decrease in accounts payable Decrease in accounts receivable Decrease in inventory Cash flows from financing activities: \begin{tabular}{l} Cash paid for dividends \\ Decrease in prepaid expenses \\ Depreciation expense \\ Increase in accounts payable \\ Increase in accounts receivable \\ Increase in inventory \\ \hline Cash fliows from financing activities: \\ \hline \end{tabular}