Use the Velor 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 $43,000 cash. b. Sold the long-term investment on January 1, 2014 for $32,000. c. Sold machinery for $14,500 cash that had originally cost $43,500 and had $37,500 of accumulated depreciation. d. Issued $36,000 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. Velor Inc. Comparative Balance Sheet Information December 31 Assets 2014 2013 Cash 261,000 185,000 Short-term investments 56,000 45,000 Accounts receivable 23,300 32,000 Merchandise inventory 28,600 49,000 Long term investment 0 43,000 Machinery 249,500 250,000 Accumulated depreciation. (135,500) (140,000) Total assets 482,900 464,000 Cash flows from investing activities Cash flows from financing activities 95,400 Liabilities and Equity Accounts payable Dividends payable Bonds payable Share capital Retained earnings. Total liabilities and equity.. 69,000 30,000 0 253,000 112,000 464,000 Net increase (decrease) in cash Cash at beginning of year Cash at end of year. 20,000 36,000 253,000 78,500 482,900 660,000 Velor Inc. Income Statement For Year Ended December 31, 2014 Sales Cost Of Goods Sold 620,000 Depreciation expense 33,000 Other expenses 38,000 Loss on sale of long-term investment. Gain on sale of machinery Net loss (691,000) (11,000) 8,500 33,500