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 equipment for $38,000 cash. b. Sold the long-term investment on January 1, 2014 for $32,000 c. Sold equipment for $16.500 cash that had originally cost $44,500 and had $36.500 of accumulated depreciation. d. Issued $37,000 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 262.700 165.000 Short-term investments 152,000 140.000 Accounts receivable 25.000 53.000 Merchandise inventory 98.800 67,000 Long term investment 0 44,000 Equipment 143,500 150.000 Accumulated depreciation. (103,500) (100,000) Total assets 578,500 519.000 Cash flows from investing activities X + Cash flows from financing activities Liabilities and Equity Accounts payable Dividends payable Bonds payable. Share capital Retained earnings Total liabilities and equity 19.000 20.000 37.000 260.000 242,500 578.500 53.000 25.000 0 200,000 181.000 519.000 Net increase (decrease) in cash Cash at beginning of year Cash at end of year. Velor Inc Income Statement For Year Ended December 31, 2014 Sales 670.000 Cost Of Goods Sold 530,000 Depreciation expense, 40,000 Other expenses 35.000 (505.000) Loss on sale of long-term investment. (12,000 Gain on sale of equipment.. 8,500 Net income 81,500