Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirect method. Note: Amounts to be deducted should be Indicated by a minus sign. Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $ 43,000 Gain on sale of machinery $ 2,750 8,000 Cash received from sale of machinery 11,000 3,000 53,000 7,000 Increase in accounts payable 11,000 Net income 4,000 Decrease in accounts receivable 6,000 Answer is not complete. VPI COMPANY Statement of Cash Flows (Indirect Method) Cash flows from operating activities Net income For Current Year Ended December 31 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Increase in inventory Decrease in accounts receivable Increase in accounts payable Cash flows from Investing activities Cash received from sale of machinery Cash flows from financing activities Cash received from issuing stock Cash paid for dividends Cash balance at current year-end 53,000 10 (8,000) 6,000 3,000 S 54,000 11,000 11,000 11,000 (4,000) 7,000 S 72,000 S 72,000